Co1n_Trader

Bitcoin. Weakness of sellers

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Local lows are increasing, buyers are pressing the price to the level. A triangle with a flat top signifies the weakness of sellers - their resistance is less and less.
Comment: Support 6200. The price will rise now, or after a false breakdown of 6200
Comment: The price moves from stop-loss to stop-loss. Major players are interested in the areas of maximum liquidity. 6800 - not so attractive level for large players. Because most traders put stop-loss for local highs and lows. 7140 is a local maximum - behind it there is good liquidity. And if the price goes up, then at 6800 it will stop only for a while.
Comment: The price has reached the level of 6800.

Comments

wrong amigo
+2 Reply
There is a daily structure resistance level at 6800
+2 Reply

Support 6200. The price will rise now, or after a false breakdown of 6200
Reply
@Co1n_Trader, So, you're just sitting in this trade? At what point do you consider the setup invalid and cut your losses?
Reply
Co1n_Trader DyslexicStoner240
@DyslexicStoner240, https://ibb.co/iYKd0z
Stop-loss 6250. If the stop loss is triggered - I will enter the long below 6200
+1 Reply
Hi,

What is your opinion now on price going to 6800 before 23. August?

Reply
Co1n_Trader pragmaticbestfit
@pragmaticbestfit, The price moves from stop-loss to stop-loss. Major players are interested in the areas of maximum liquidity. 6800 - not so attractive level for large players. Because most traders put stop-loss for local highs and lows. 7140 is a local maximum - behind it there is good liquidity. And if the price goes up, then at 6800 it will stop only for a while.
Reply
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