BTC bearish scenario
Updated
If the sellers have enought strength to break the supports (red lines) then we might see the prices reach the middle
of the range (5.5k aprox) and if the weakness contiues with momentum it might reach the 5k level
of the range (5.5k aprox) and if the weakness contiues with momentum it might reach the 5k level
Note
At this point, the sellers obiously didnt have enouht strenght and the price squeeze them ... so the idea is no longer valid ... in any case if you had eny short entry with a good trade location, some partial exits and a good level to scratch the trade the damage in this trade should have been minimum ... Risk management is a MUST, this is a great example.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.