Short

BTC - demonstration of strength

Updated

This chart shows what I am expeting. I marked a key level (8250) which is very important for this market.
On this point we are going to measure the power of the bears and bulls and their show-down.

Firstly, if we want to get to this key level we will have to pass through 8600.

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So we bounced from 8600.

Next resistance at 9325.

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New border lines maybe.

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Almost done, then we can start to test next support 8800 and after that 8600 again.

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So we have been pumped a little bit.
Next resistance lvl is at 9330.

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Now we are above three support lvls which is 9200-9100-9000.
If we can close 1 hour candle below the 9200 we can go try to test 9100 and 9000.
Also we can go test resistance lvl at 9280. So keep an eye on it.

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Now we are heading to test 9000-8900.

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Well, we chose a little bit different way around as was my brush sketch, but we are there and got the target finaly. When we can close below this short term target price 8850 then we will see most likely testing 8650 which is a very important keypoint for the next market move. Hovewer, it takes some time while we get there.

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It seems we probably find a support at 9300 and then we breakup from rising triangle below on the chart. If not then we go test a lower supports.

Trade active

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tommyelltom

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