BTC/USD - Not Looking Good...
Updated
We're failling to break into the resistance zone from 8,900-9,200. We can expect a dump if we continue to fail this breakout. If we do end up breaking out though, we can expect at least 9,200, and then we can work towards the next resistance zone.
Note
We still didn't break up, but bulls are still putting up a fight. For now i'm on the sidelines. If we do get in the zone and get rejected again I'll put a small short position @ around 8,900 though, with targets depending on how hard the rejection was.Note
Remember there are a lot of shorts opened on the 8,900-9,000 range. If we push to 9,000 we a good momentum a lot of bears will panic close their positions, which could potentially cause cascade liquidations, pushing us even higher (9,100-9,200).Note
Good shorting opportunity @ 8,900 after we failed to break out for the second time.
Target: 8,700
Stop-loss: 9,025
Trade closed: target reached
8,700 reached, nice little profit. Back to the sidelines!
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