BTC DAILY TECHNICAL ANALYSIS. VOL7
Hi guys!
After a succsessful short in the previous setup (VOL6) i picked up a fast long from the 58500 area and did a short timeframe exit around 60500. Now price is still in a downtrend on medium to long-term timeframes and a risk of another leg down is there.
Considering that BTC is going to range trade between the current low and previous high made on 10th november, i will take a small risked trade in the blue marked area in the price range of around 59000, hard stop 57500 and target price 62000.
Market has to stabilize first and that means range trading in the current area for some time, if we do make a brakeout, i will add to the position. Otherwise bearish high timeframe closing is a soft stop for me.
After a succsessful short in the previous setup (VOL6) i picked up a fast long from the 58500 area and did a short timeframe exit around 60500. Now price is still in a downtrend on medium to long-term timeframes and a risk of another leg down is there.
Considering that BTC is going to range trade between the current low and previous high made on 10th november, i will take a small risked trade in the blue marked area in the price range of around 59000, hard stop 57500 and target price 62000.
Market has to stabilize first and that means range trading in the current area for some time, if we do make a brakeout, i will add to the position. Otherwise bearish high timeframe closing is a soft stop for me.
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