BTCUSD has recently broken down the downtrend channel (purple rectangle) with an interesting opportunity for a trade short. In the chart with candles at 4h you can see a strong red volume candle that highlights a large amount of money coming out of the market .
So we approach the next level of support that we evaluate to be at 7200. After this could run again or go direct to the historical minimum at 6000$.
Trade closed manually
We close this trade with a small profit.The situation is uncertain and we want to wait for a breakout (see the last idea published). Our mind anyway is bull and we just waiting for a confirmation! Have a good trading!
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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.