Short

BTCUSD stop hunts, bull traps and 7k

Updated

last week we remained at this level before taking a nice expansion move down, so far I'm assuming the move is not over yet and 1 more leg down is in play, I have alot of interest in a reaction from 10500-10800 level. It would make sense to hit the long stops there now, fake breakout above the wedge into the liquidity box above, before a few months of cool down. Nothing is certain in trading, we always need to adapt and re-evaluate as traders but for now, I'm a fan of this setup, watching how the brush tool plays out here. Good luck all

Note

Hey if youre reading this would appreciate a like and/or follow, it motivates me to keep updating and posting. At least if it's wrong you can follow me to rub it in my face later. Thanks in advance and good luck to all.

Note

I am watching this double red box area. if price managed to break above that and hold or retest quickly, I will be in retrace long entries and have less expectation of hitting 10700.

Note

Still using this area to guide me into next leg of trend.

Note

still trying to find it's place, watching for a long entry after looking at retests on that white line for confirmation.

Note

Im out of shorts for now

Note

not sure if it will go to the black, line, reverse here or go deeper. So ill be flat till more clarity comes.

Note

Hey everyone, it's bounce time for btc here, gotta hold 10300 for a nice move up, 12.5-12.8 would be ideal but that seems like crazy talk for now. 10750-11150 will be the key into how much momentum this can bring.

Note

Well that was aggressive, once the 10300 level broke it was straight dump to the demand zone below, cant say im too happy about this drop really expected the green zone to provide more than a weak scalp.

sure its a wick catch and a beautiful candle right on demand zone but that sell off was no joke. For me longs are only scalps now, until 10350 is regained held and a possible move 10730 for more upside. Otherwise we will likely range here most the time with retests into the demand zone very possible. If we lose 9500 and reject it, or lose 9350 it will be bad news. Good luck, press the like pls if you found any of this useful.

Note

Hey everyone hope your weekend is going well. Being in a short here seems very dangerous if at current price.looking at previous resistances behavior, specially this little consolidation on lower time frame says there is a high probability of a little 300$ move up.

Note

Hello everyone. I will not be holding my breath for 10700 anymore. I will be exiting here and looking for a short entry, although we are currently going up, there is a weakness about this move I dont like, so close early and possibly find short scalps targeted at retesting the zones below. Good luck all

Note

took off half of the shorts here, and looking for this to be the next play if we keep grinding like this and end up trading outside the upper range with an expansion down.

Trade closed: target reached

I'm satisfied with this move. Leaning for a retest or bullish reversal after seeing what happens now. I'm more interested in the mid 11k range or higher than 7k right now.

What if they're wrong, one more crazy ride to 16k. Could it be ?

I'll be updating this one from here. Wish me luck because it's so crazy it might just be the next right move.

Cortex_

Related publications

Btc following the blue arrow, but then what ?

by Cortex_

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.