Right, so referring to my previous Idea, as expected BTC was finally reaching 17200 level and rejected so hard from there. Now looks like valid down trend on 1H & of course 4H Timeframe. Honestly, I'm out of market now since I'm practicing discipline for not doing any trades during Saturday and Sunday. I hate the over-volatility and I need a break.
16855 is still a strong contender here as support. candles on several timeframe has been bounced there over and over and let's hope it will last. with weekend volatility, we may see long wick toward 16600 - 16400 area though (unlikely but maybe I'll break my -no trades on weekend- taboo and put some bid for long pos at that point, lol). As long as the big fat red diagonal line below remained untouched, I think we're fine.
16855 is still a strong contender here as support. candles on several timeframe has been bounced there over and over and let's hope it will last. with weekend volatility, we may see long wick toward 16600 - 16400 area though (unlikely but maybe I'll break my -no trades on weekend- taboo and put some bid for long pos at that point, lol). As long as the big fat red diagonal line below remained untouched, I think we're fine.
Trade active:
Returning here a week after and wooow...that's a very nice performance on 16855 area. unfortunately, my bid 0n 16600 was teeny weeny away and the price goes up without touching it. as expected, the price still rejected on 17291 area. amazingly all of these happen precisely on the trendline (see red diagonal line heading up). so, regardless of the boring small sideway movement in-between, we might see volatility within 1 or 2 days.