Surfandtrade
Short

Giant Wedge - Take Profits and wait !

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
446 views
6
Apologies for last post, tried off phone and didn't work..

So will try again.. Anyways as charts suggests

Time to take some if not all profits off the table for now... no more buying as we are into weekly supply zone .

A new fresh demand area formed which is where I would be looking for longs at

Comments

An area where there may be high selling pressure. At that price area in the past, for some reason there was a huge imbalance of more willing sellers than buyers. Dont know why, there just was...As price moved away so quick in the past, there may also be orders at that price that never got filled and so within that weekly supply area there may be sell orders just waiting for price to revisit. As all we are doing is playing a probabilities game in trading, when price comes back there i will be looking for price to show signs of selling on smaller timeframes - hope this helps - sorry for long reply😋
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Thanks for posting but what do you mean by "weekly supply"?
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