Bitcoin
Long
Updated

Breakout within rangebound market - BTC supported by 40k shorts

209
Range i've been watching playing out - added upside range on breakout - chart for future reference and follow up
Note
Smashing up on weekly resistance - going through will further fuel short term upside

snapshot
Note
snapshot

Confluence of resistance levels and 1hr cloud - just a small hurdle for this move
Note
8k taken - no stop in sight - liquidations will come

snapshot
Note
Correct chart
snapshot
Note
Correct chart

snapshot
Note
Few shorts closed
snapshot
Note
Amount of shorts put in the 6k range since the 3th - currently feeling more and more pain. All shorts need to be bought up.
snapshot
Note
Confluence of resistance levels playing out in 7800-8000 range

snapshot
Note
First stop for retrace 7600

snapshot
Note
Look for weekly resistance providing support
Note
Example of a play to make with the former retrace setup
snapshot
Note
Watch this flag carefully to stay safe - though 8k provides upwards resistane
snapshot
Note
75% of shorts liquidated - Tradingview delayed reporting

snapshot
Note
Converted to watching a descending wedge

snapshot
Note
Could also stop out with a close outside the Kijun (blue line)
Note
Breakout - stop out would be a good play

snapshot
Note
Stopped out by Kijun aswell (blue line cross)

snapshot
Note
Expecting small pullback but long is in play
Note
Incoming test of support
snapshot
Note
Breakout - long is still in play

snapshot

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.