BTCUSD: if support fails

Description

⋅ Dec 2, 2019 3:42 PM

Hi ladies and gents!

So I have been a strong bull for quite a while, but tbh I do not give a fuck. P&L is all that matters in the end of the day.

I think BTC is now at the last chance support which IF fails will send price to 6840 swing low.

I would short this shit right now, but not doing it until I see swing failure of the day's high at least, cus BTC is actually at HTF support.

So I'm looking for failure to break out through 7370. That together with the correct momentum at reversal will provide a perfect sell signal.

TAKE CARE

Comment

⋅ Dec 2, 2019 4:43 PM

any diamond lovers here? What do you think?

Comment

⋅ Dec 2, 2019 11:23 PM

it is interesting to see how price action develops, I clearly see pressure from 7370

but on the same hand price is not rushing south, which make me think that we might just have some consolidation occurring

if so, 7370 doesn't seem solid enough to hold, so the next swing untouched looks to be 7530 ish...

Comments

transparent-fx

⋅ Dec 2, 2019 3:54 PM

To be frank, quite nice job, maybe I will break it down

rfelchuk

⋅ Dec 2, 2019 4:00 PM

@transparent-fx, top man!