BTC looks strong at 4H. You can see the trend up channel happening there. The every low is higher than previous (white circles). I think that BTC still can bounce up to 24k to make another highest high. I'd look for BTC short positions only when this channel trend is broken, but keep in mind it can continue to flet because we have a strong support at 22 300. Nothing more to say here on the 4H - BTC has its trend, highest lows and highest highs. Looking good.
Lets talk about 1D chart. We reached the biggest resistance from summer between 24 000 - 25 000. No need to hurry with any shorts, because we have a 4H trend that can still bounce higher, would suggest to wait for something really reversal (market sell volumes, candles, etc). For example we can go for 22 300 and bounce back to 24 000. So globally good short try could be from 25 000 or with the break down 22 300. The largest liquidity for short is located between 20 500 - 21 500 and this could be another global target when 22 300 is really broken.
Move with the trend. GL
Lets talk about 1D chart. We reached the biggest resistance from summer between 24 000 - 25 000. No need to hurry with any shorts, because we have a 4H trend that can still bounce higher, would suggest to wait for something really reversal (market sell volumes, candles, etc). For example we can go for 22 300 and bounce back to 24 000. So globally good short try could be from 25 000 or with the break down 22 300. The largest liquidity for short is located between 20 500 - 21 500 and this could be another global target when 22 300 is really broken.
Move with the trend. GL
Note
We have reached the lowest point at 23000 on a trendline, as you can see by the chart there is 2 options, trend break down, or the big impulse and up.Note
Trendline is broken meanwhile reached strong support at 22 300 and didn't break down.Trade active
22 300 break down. To be honest I entered much earlier on a trend break down.
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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.