BitcoinUpdated We have Rejected $6300 3 times, what could happen next?
We have rejected the $6300 3 times, and the triangle is closing slowly with downward volume over time, we are due some volatility.
If we break the $6400 we could see good short opportunities at $6450-6470 but I advise you keep your stop losses fairly tight as a volume profile suggests there isn't much defending a further upward move toward $6600 if we move beyond $6470
I would advise if we close a 30 min candlestick above or below the trading zone I defined it would suggest a move in that direction for the short term.
We are still in a bear market and remember that the trend is your friend
If we break the $6400 we could see good short opportunities at $6450-6470 but I advise you keep your stop losses fairly tight as a volume profile suggests there isn't much defending a further upward move toward $6600 if we move beyond $6470
I would advise if we close a 30 min candlestick above or below the trading zone I defined it would suggest a move in that direction for the short term.
We are still in a bear market and remember that the trend is your friend
Note
I'm bearish at the moment after the last candle finished below the 1 hour 21 ema
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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.