BTC Day-Trading Update (November 09)
Very large sell-off overnight. Price dumped very quickly within two hours nearly 8%, only stopping after wicking thoroughly through our previous broken resistance turned into a Demand Zone.
Unfortunately, such a large sell-off is usually an indication of trend exhaustion, so after an initial bounce-back my strategy is to short back down for a re-test or breakdown of the $35,900 Demand Zone.
I will begin looking for entries around $36,800, waiting for lower-time frame entry signals.
Unfortunately, such a large sell-off is usually an indication of trend exhaustion, so after an initial bounce-back my strategy is to short back down for a re-test or breakdown of the $35,900 Demand Zone.
I will begin looking for entries around $36,800, waiting for lower-time frame entry signals.
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