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Finnovin
Dec 17, 2022 10:02 PM

This support looks legit Long

Bitcoin / U.S. dollarBitstamp

Description

look at these two supports.
we can see a pullback on a very long dynamic broken resistance,
and also a decent pullback on a HV on volume profile.

next resistance without looking at waves and harmonics is on 19K.

this idea is not investment advise. so be careful. we have no support below down to the 14000.

Trade active

a slight upward movement is on go. we can spot any demand saturation in 1hr and 3hr timeframes.

Comment

It doesn't really look that powerful yet.
so I make sure my positions are riskfree.

Trade active

This drop that happened, is in fact in favour of the upward momentum.
so I'll keep my position as long as it's risk free.

Comment

![closer look](imgur.com/a/dW36hwz)

Trade active

everything is as planned, strong support.
Comments
JoeChampion
How do you define the target?
Finnovin
@JoeChampion, In this idea, I didnt show all the targets. but basically, any powerful resistance can be a target, cuz price moves fast in zones with no resistance and stops or changes direction as soon as it touches a resistance zone.
so 19000 is one of the most powerful targets, although bullish momentum doesn't still look like rising to 19K.
SwallowPremium
Such an interesting trading setup. Keep posting!
Finnovin
@SwallowPremium, Thanks dude
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