If you long 7.4 do it with a tight stop. If you short 9.5 do it with a tight stop.
Bitcoin is ranging between these areas. TA for what happens in between doesn't really matter too much
There will be a lot of bull/bear blood if either of these horizontals get broken. 9.5k level (if we even reach it) is a key fib level + neckline for double top + matches with the bear trend line on log. Lots and lots of sell orders here. Even bulls with hedge their longs in this area, ie Sell. I think it's VERY unlikely this gets broken but if it does I'd expect a violent pump upwards as people are forced to cover their shorts.
I'll be trading this short. The R/R for a short at 9.5 is so stupidly good I actually suspect it may get rejected earlier as counter intuitive as it seems. People might sell that little bit earlier 9.2-9.3. Again that's even if we reach these levels
Bitcoin is ranging between these areas. TA for what happens in between doesn't really matter too much
There will be a lot of bull/bear blood if either of these horizontals get broken. 9.5k level (if we even reach it) is a key fib level + neckline for double top + matches with the bear trend line on log. Lots and lots of sell orders here. Even bulls with hedge their longs in this area, ie Sell. I think it's VERY unlikely this gets broken but if it does I'd expect a violent pump upwards as people are forced to cover their shorts.
I'll be trading this short. The R/R for a short at 9.5 is so stupidly good I actually suspect it may get rejected earlier as counter intuitive as it seems. People might sell that little bit earlier 9.2-9.3. Again that's even if we reach these levels