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.
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Price is breaking the top of the channel, currently. We'll see how it reacts to the Daily Supply Zone.
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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.
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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.
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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.
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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!
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Trade is now at 2.56R! Patience pays!. Taking partials here, and continuing to hold. I want to go to bed! I can't!
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Trade closed manually
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: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: