Trade is based on simple strategy.
I'm coming back to trading after 3 years and first thing I saw was this :)
PS: Not completely sure where to get out of the trade.
TRADE AT YOUR OWN RISK
Most of the traders expected 6600$ to be broken as BTC was touching that resistance zone for the third time. But what happened was strong hands were limit sold their positions for retail traders trapping out many buyers and breakout traders. At the end of the distribution, price fell down ~5%.
I'm expecting the price to go much lower withing next couple of days...
Are we getting ready to break a major support line started back from the beginning of 2017? If we break the line we're going down hard. Keep an eye on RSI. Will update this thread for target zones if we break the line.
P.S: Not a financial adviser. Trade at your own risk. Best of luck!
Currently we are on a downtrend because of the falling wedge formed by COINBASE:BTCUSD . I'm expecting this drop to hit $8150 - $8050 range withing next couple of days.
As you can see we are currently forming a bear flag which validates further downtrend.
P.S: Trade at your own risk. Not a financial adviser
I believe we've one more wave to go up to finish the impulse wave; before a downtrend. Entered a long position for a small gain :)
P.S: I'm not a financial adviser. Still new to TA :)
