BTCUSD is trading on the resistance level of 7200$, if bitcoin breaks this level then we need to see if it resist again on the upper trendline of the channel which is 7250-7260$, the volume is not big enough and this indicates a reversal or correction from here.
if it can't break above it we can initiate a short position from this level 7250-7260$ with max Stop of 3%
if it can't break above it we can initiate a short position from this level 7250-7260$ with max Stop of 3%
Comment:
Another Channel can be drawn like this; and the bullish target will be 8k$ if it breaks the current resistance
Trade closed manually:
New Idea Posted and Target Completed (www.tradingview.com/...-on-small-timeframe/)