Hello Crypto,
There are two scenario can possible from my opinion there is decreasing of volume clearly rejection from major resistance you can see in chart, a rising wedge can break down in coming day's.
If BTCUSD break $7000 to $7200 and closed above so upward continuation possible, but I think 7 day's of resistance rejection will have to crash BTCUSD to $5800, $5500 and $5000.
Trade signal:
50% BTCUSD sell at around 7000$.
Put the short position from $6800 to $6700.
Tomorrow is also a weekly closing.
There are two scenario can possible from my opinion there is decreasing of volume clearly rejection from major resistance you can see in chart, a rising wedge can break down in coming day's.
If BTCUSD break $7000 to $7200 and closed above so upward continuation possible, but I think 7 day's of resistance rejection will have to crash BTCUSD to $5800, $5500 and $5000.
Trade signal:
50% BTCUSD sell at around 7000$.
Put the short position from $6800 to $6700.
Tomorrow is also a weekly closing.
Note
If price does not pull back here, $8200+ next is a no brainerOtherwise $6350 and $5800 are supports below
Trade closed: stop reached
Closed above EMA50. Next Will be 8K if next close will above EMA50
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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.
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.