BTCUSDT has had an amazing run so far!.
But we had a long period of consolidation, which we had before the breakout.
Now it seems we need to pull back to give some rest to the buyers and consolidate on this new range (24K to 19K) for a while, before the next leg up.
I think 20K and upper 19K are going to be a great area of support for this, they are so far the area with the greatest volume on the way down and they are also sitting on the Fib Retracement of 0.236 and the 50 EMA .
I'm opening a small short on this, to try to catch some of that move.
But we had a long period of consolidation, which we had before the breakout.
Now it seems we need to pull back to give some rest to the buyers and consolidate on this new range (24K to 19K) for a while, before the next leg up.
I think 20K and upper 19K are going to be a great area of support for this, they are so far the area with the greatest volume on the way down and they are also sitting on the Fib Retracement of 0.236 and the 50 EMA .
I'm opening a small short on this, to try to catch some of that move.
Comment:
Needed a wider SL next time I'm gonna use 1.5 ATR from the swing high (measured from the wick)
Trade closed: stop reached:
Stopped