Really Simple Idea on BTC Direction - Right now its Take Profits

BTC below 11,200 (in my opnion) is bearish. 11200, if we touch it, should be sold hard, unless we see a big green candle break it and stay above it on the daily.

Multi-Month, long term support is at 8k ish as shown.

I only paper trade and look at numbers, but if I were to trade, I would short bitcoin here and up to 11200. SL at 11400 and trigger buy if it tries to breaks 11480.

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p.s. this is also our trading range for some time to come if we do dump and fail to break 11200.

An invalidation of this idea will happen when the new weekly starts. If bulls defend 10800 (like they have) and we do not see 10600 break and stay there, its probably time to get out of shorts and start looking to get long.

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Smaller TF showing a lot of strength here. Stop loss brought down.

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Well there you go ... timber!! Got me scared for a bit there. Never change bitcoin! :D

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Trade closed: target reached:

SL hit.