So you want to short BTC?
Welcome to the Club.
Notice that if during the last few weeks hot air movement any support was build, that is the pink box, so better think twice before shorting here.
Now we could see this support build strength for a move up to either:
horizontal resistance @ 8200ish,
wedge retest @ 8400ish
hourly fakeout candle @8900ish
Fibo retracement @ 9360
The higher the target the less likely it is from happening, specially any highs above previous are very unlikely, but nothing is impossible as you Know already.
Trade safe.
Welcome to the Club.
Notice that if during the last few weeks hot air movement any support was build, that is the pink box, so better think twice before shorting here.
Now we could see this support build strength for a move up to either:
horizontal resistance @ 8200ish,
wedge retest @ 8400ish
hourly fakeout candle @8900ish
Fibo retracement @ 9360
The higher the target the less likely it is from happening, specially any highs above previous are very unlikely, but nothing is impossible as you Know already.
Trade safe.