Bitcoin is making lower low and lower high giving bearish signal for long but today Bitcoin has broken its major trend line support started early this year formed from 3K to 13K .. From my previous analysis, we can see Bitcoin is giving signal only for sell. Recently we had seen few pullback to $10,300 but price has been rejected and its acting as strong ‘Resistance’. Now in downtrend It will find next support at $8900, 7800, 7100. We will analyze again,when it reaches near next support based on how it reacts with it. Until than create short position make profit at each drop .. Please like my idea and follow my idea for live alerts.
Target: $8900, 7800 and 7100 SL: $10,300 or 9,800 (depend on loss you can bear)
Now god save cryto coins.. It will sky rocket to bottom... Bear are in Control..
Trade active
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here is an update on trade:
Trade active
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There is no surge in volume with price, the volume should have gone up on day chart for past 4 days but its not. The volume is descending day by day with price going up (suggest weakness in upward rally or false upward rally)..
this could be a trap setup by big fishes for moving out supply and showing $$$$ on books? (bull trap)
Stop loss at 10,300, if price able to sustain above 10,300 (making bullish candle above price on 4 hr chart) than exit from short.