CONTINUE the short till 7450 ! lets go !
price is moving up strongly , but with lower volume.
this shows that this jump was caused by stupid buyers who panicked. they saw that BTC dropped so low suddenly and they were urgent to take profit. and people who were shorting, saw their profits evaporated and they joined in to take their profits too. meanwhile, people who entered short at high leverage were being liquidated.
and with this volume dying off as seen on the H1 chart, seems like the panic is over and the downtrend is resuming.
right now we have an opportunity from 7860 to 7450, !!! SL is at 8000, this gives us a good 1: 3 trade !
this shows that this jump was caused by stupid buyers who panicked. they saw that BTC dropped so low suddenly and they were urgent to take profit. and people who were shorting, saw their profits evaporated and they joined in to take their profits too. meanwhile, people who entered short at high leverage were being liquidated.
and with this volume dying off as seen on the H1 chart, seems like the panic is over and the downtrend is resuming.
right now we have an opportunity from 7860 to 7450, !!! SL is at 8000, this gives us a good 1: 3 trade !
Comment:
Set your protective stops! I love a good trade