BTC/USD
I have been waiting for a test of the 9200-9400 range on btc for a while now. We are still in a downtrend so a rejection of this level would indicate lower levels to be held. If the red box range is rejected I see the test of 5800 a possibility for btc. However, if btc holds above 9400 with at least 2 consecutive daily candles then I see a test of the much higher levels. It all depends on the rejection or gain of the 9200 level. This is a level to take large profits on longs and to hedge large postilions on shorts. This way you cant lose!
I have been waiting for a test of the 9200-9400 range on btc for a while now. We are still in a downtrend so a rejection of this level would indicate lower levels to be held. If the red box range is rejected I see the test of 5800 a possibility for btc. However, if btc holds above 9400 with at least 2 consecutive daily candles then I see a test of the much higher levels. It all depends on the rejection or gain of the 9200 level. This is a level to take large profits on longs and to hedge large postilions on shorts. This way you cant lose!
Comment:
First large profit taking on the short. Trading is simple. Keep emotions at bay.