Cortex_
Short

BTCUSD stop hunts, bull traps and 7k

COINBASE:BTCUSD   Bitcoin / U.S. Dollar

last week we remained at this level before taking a nice expansion move down, so far I'm assuming the move is not over yet and 1 more leg down is in play, I have alot of interest in a reaction from 10500-10800 level. It would make sense to hit the long stops there now, fake breakout above the wedge into the liquidity box above, before a few months of cool down. Nothing is certain in trading, we always need to adapt and re-evaluate as traders but for now, I'm a fan of this setup, watching how the brush tool plays out here. Good luck all
Aug 12
Comment: Hey if youre reading this would appreciate a like and/or follow, it motivates me to keep updating and posting. At least if it's wrong you can follow me to rub it in my face later. Thanks in advance and good luck to all.
Aug 12
Comment: I am watching this double red box area. if price managed to break above that and hold or retest quickly, I will be in retrace long entries and have less expectation of hitting 10700.
Aug 12
Comment:
Still using this area to guide me into next leg of trend.
Aug 12
Comment: still trying to find it's place, watching for a long entry after looking at retests on that white line for confirmation.
Aug 13
Comment: Im out of shorts for now
Aug 13
Comment: not sure if it will go to the black, line, reverse here or go deeper. So ill be flat till more clarity comes.
Aug 14
Comment: Hey everyone, it's bounce time for btc here, gotta hold 10300 for a nice move up, 12.5-12.8 would be ideal but that seems like crazy talk for now. 10750-11150 will be the key into how much momentum this can bring.
Aug 15
Comment: Well that was aggressive, once the 10300 level broke it was straight dump to the demand zone below, cant say im too happy about this drop really expected the green zone to provide more than a weak scalp. sure its a wick catch and a beautiful candle right on demand zone but that sell off was no joke. For me longs are only scalps now, until 10350 is regained held and a possible move 10730 for more upside. Otherwise we will likely range here most the time with retests into the demand zone very possible. If we lose 9500 and reject it, or lose 9350 it will be bad news. Good luck, press the like pls if you found any of this useful.
Aug 17
Comment: Hey everyone hope your weekend is going well. Being in a short here seems very dangerous if at current price.looking at previous resistances behavior, specially this little consolidation on lower time frame says there is a high probability of a little 300$ move up.
Aug 17
Comment:
Aug 18
Comment: Hello everyone. I will not be holding my breath for 10700 anymore. I will be exiting here and looking for a short entry, although we are currently going up, there is a weakness about this move I dont like, so close early and possibly find short scalps targeted at retesting the zones below. Good luck all
Aug 18
Comment: took off half of the shorts here, and looking for this to be the next play if we keep grinding like this and end up trading outside the upper range with an expansion down.

Aug 28
Trade closed: target reached: I'm satisfied with this move. Leaning for a retest or bullish reversal after seeing what happens now. I'm more interested in the mid 11k range or higher than 7k right now. I'll be updating this one from here. Wish me luck because it's so crazy it might just be the next right move.
two things u dont go against in life, your wife and a trend. I would be buying
+1 Reply
Hey everyone hope your weekend is going well. Being in a short here seems very dangerous if at current price.looking at previous resistances behavior, specially this little consolidation on lower time frame says there is a high probability of a little 300$ move up.
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On our way to 9500?
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Cortex_ RyanKCSP
@RyanKCSP, the move was aggressive but im not shaking out or taking shorts yet. I want these levels to be regained before daily close. Best to regain within the next hour or at daily max. There will be some buying interest around 9800s but im still counting on this zone to give some bounce as long as we regain these levels
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@Cortex_,I show strong support at 9721, but supports have been an afterthought this week
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Cortex_ RyanKCSP
@RyanKCSP, yea I agree. There are rare chances when these demand areas fail, usually within 2.5% below demand zone, thats why i still see a move up and back into green is not impossible. Better to be flat now and see it regain more valuable levels. It's too low to short and too dangerous to long.
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@Cortex_, Ive been short since 11325, just keep moving my stops. Bitmex at 46% short now. was 39% at 10500. I dont think i have ever seen it so high
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Cortex_ RyanKCSP
@RyanKCSP, nice one, it really wont take much to pump this, but cant ignore how weak it looks, so crazy. I'm still in favor of longs for now but best trade is to be flat until clear direction comes.
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Let's go! Here is a comment. Short agreed!
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Where are my comments
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