Great opportunity to sell BTCUSD. Price made a false breakdown of two resistance lines. Now BTC is below these lines and the resistance level of 7450 + the trend is falling. Sell! Target 1 - Level 6800 Target 2 - Level 6200
May see mid 6000s, may not, then upward continuation.
DAVID9039
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its not a false break, u just need to look at this resistance line at larger timeframes
thoro0308
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No I think first target is 6k and then 5.5k for me.
Boon2
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BTCUSD H1 ABC Structures.
tommyf1001
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If you were using log scale, you would realize there was no false break at all and that the trend line was actually a very reliable resistance
BrandonrG
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Ya and I had dingus content creator telling me we were in a huge bull flag. Then messaged me on the inverse h&s measured move, haven’t heard from him since lmao
DemKos
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Whats you opinion on this?
uziboozi
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@DemKos, i dont think its likely, i could see a head and shoulders forming rn but its below both 200 and 50 emas and will likely need alot of momentum to break 8000
DemKos
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@uziboozi, Look at my idea, there was just a big order block put up on binance at 7200 of 1274 BTC. Majority of market is short, combine this with the funding rates on exchanges which are turning negative again (shorts paying longs). This means there will be a lot of short under water if we move up a little bit and if we break above 7500 a lot of them will start folding their hands concluding in extra buy presure. After 75 that will add fuel to the run and go up to 7700 where a lot of liqs are. Market makers will go for liquidity and now that is at 7700.