There is a mass shorting at these levels, asking to be squeezed. Bitcoin is known to have numerous shake outs in either directions before huge moves, along with tricking and trapping traders. I believe we will see another opportunity like this! If you are not already short this is the perfect opportunity for you to be able to get in at a potentially perfect level!
Target 1 - 8180-8210
Target 2 - 8260-8280
A stop loss on taking a position at these targets would be at 8500 - this is the .65-.618 from the 8800 high and 7900 low.
Remember, do not risk too much, and only pick trades that come to you, do not force anything that doesn't come to you.
I hope I made good use of your time today!
That will conclude this Bitcoin analysis.
As always friends, I wish you good luck trading!
And thank you for supporting me.
-Trader Demo
Target 1 - 8180-8210
Target 2 - 8260-8280
A stop loss on taking a position at these targets would be at 8500 - this is the .65-.618 from the 8800 high and 7900 low.
Remember, do not risk too much, and only pick trades that come to you, do not force anything that doesn't come to you.
I hope I made good use of your time today!
That will conclude this Bitcoin analysis.
As always friends, I wish you good luck trading!
And thank you for supporting me.
-Trader Demo
Comment:
Looks like our first target will hit soon if this triangle holds!
Trade active
Trade closed manually