Plausible Lower High for Bitcoin CME, 3D
Updated
After the local top at ~14k the sequential perfectly pegged the failed rally to a lower high of ~10k in February. A drive of 9 was completed, closing below TSDT Resistance, but momentum carried the price action through to directly test the TSDT Resistance - which held, and precipated a move low that actually closed below the TDSD Line generated by the Nov 2018 capitulation from 6k to 3k.
From this recent bottom, a TD 9 Sell Setup has been generated without a market closure over the TSDT Resistance Line. As with the first failed rally there is a possibility that momentum carries price action through to test the resistance (approx 9880), but there is a strong bias for that resistance holding.
Response: Wait for signals of follow through (or lack thereof) and enter into a short position with risk management based on the TSDT Resistance. Target would be approximately 6370, the absolute low of the most recent TD 9 Sell Setup
**NOT FINANCIAL ADVICE**
From this recent bottom, a TD 9 Sell Setup has been generated without a market closure over the TSDT Resistance Line. As with the first failed rally there is a possibility that momentum carries price action through to test the resistance (approx 9880), but there is a strong bias for that resistance holding.
Response: Wait for signals of follow through (or lack thereof) and enter into a short position with risk management based on the TSDT Resistance. Target would be approximately 6370, the absolute low of the most recent TD 9 Sell Setup
**NOT FINANCIAL ADVICE**
Trade active
1D TSDT Resistance comes in at 10535.I think it is possible some 1D HA candles close in this range meaning possible volatility into 11XXX.
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