BITCOIN: Possible sell opportunity...?
BTCUSD has reached the top of a Descending Channel, and entering a Supply Zone presumably holding selling orders. I believe the market will tap into this pool of liquidity, and turn over control from buyers to sellers.
Comment if you agree with this outlook. I would appreciate the feedback.
Comment if you agree with this outlook. I would appreciate the feedback.
Comment:
Price is breaking the top of the channel, currently. We'll see how it reacts to the Daily Supply Zone.
Trade active:
BTCUSD:
Back in. Broke the support (red). Good indication price will continue down.
1:4.58 RR this time.
I am watching for a retest of the last OB price just formed. But the high it just made was itself a RT of the prior OB, so I'm hoping price just melts.
1:4.58 RR this time.
I am watching for a retest of the last OB price just formed. But the high it just made was itself a RT of the prior OB, so I'm hoping price just melts.
Comment:
For those that thought the call was off, there is no trade without confirmation.
I don't enter without it!
Price decided to breakout of the channel. No worry. I mentioned in the video that there was another OB right above that price would have to deal with. When price started to round off and head down, I saw my confirmations for a short... and entered a sell position.
Currently in profit, and my SL will go to BE soon!
Boom.
I don't enter without it!
Price decided to breakout of the channel. No worry. I mentioned in the video that there was another OB right above that price would have to deal with. When price started to round off and head down, I saw my confirmations for a short... and entered a sell position.
Currently in profit, and my SL will go to BE soon!
Boom.
Comment:
SL hit/BE, after taking some profit at 1:1.5. Trade reached 1.7R before reversing. So, a little profit on the 1M TF.
This was the retest of the OB I was watchful for.
I am looking for a bigger drop, though. So I will wait patiently for it.
This was the retest of the OB I was watchful for.
I am looking for a bigger drop, though. So I will wait patiently for it.
Comment:
I am short again! 33642.10
Moved a bit, so I am at BE. No risk. Going to bed. I will update in the morning.
Hope it goes for a bit!
Moved a bit, so I am at BE. No risk. Going to bed. I will update in the morning.
Hope it goes for a bit!
Trade active:
Trade is now at 2.56R!
Patience pays!.
Taking partials here, and continuing to hold.
I want to go to bed! I can't!
Patience pays!.
Taking partials here, and continuing to hold.
I want to go to bed! I can't!
Trade active:
Trade closed manually:
:white_check_mark: BTCUSD:
Going to exit the balance of the position, in profit. It's making an inverted H&S, and I think the momentum is still bullish. So I will wait, but secure this bag now! :moneybag:
