BTC rolling over again
Updated
BTC/
BTC rolling over after the big runup.......possibly a shortsqueeze? We were stopped by overhead resistance which was put in place by connecting 9/14/17 and 2/6/18.......amazing how this stuff works. Goal is underlying support of about 7400 or so depending on how long it takes to get there as support is downward sloping.
BTC rolling over after the big runup.......possibly a shortsqueeze? We were stopped by overhead resistance which was put in place by connecting 9/14/17 and 2/6/18.......amazing how this stuff works. Goal is underlying support of about 7400 or so depending on how long it takes to get there as support is downward sloping.
Note
trade still in play but we have certainly made a bullflag...........stop is just above the highs as marked
Trade closed: stop reached
You can see we made a good call. BTC hit overhead resistance and was rolling over while also being overbought. Midway we also noticed a bullish flag unfolding. Stop was hit, the flag unfolded.......next buy opportunity will be a close above long standing resistance of 8366 with a stop just underneath.
Note
Or.........this was simply part of the short squeeze going on.......we won't breakout because if you'll notice from the top indicator just below the graph.....we have divergence......the indicator is not following price. Read the chart, make a plan, set your stops, never marry a trade........and always remember your setup could be correct, or the market decided otherwise. With good stops, you can always play again another day.
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