BTC meets resistance at 17.3 - 17.5, and at 18 - 18.4.
A rejection can take us down to 16.9 - 16.4. I don't know how strong the 16.9 support is; it was more a resistance lately.
SHORT OPPORTUNITY:
I will look for a short opportunity at 18.3. I generally don't like to short BTC as I believe in it long term, and I don't know how long it can be held down. But a clear rejection at the December 15th rejected high at 18.3 is a good set up. I would then short it down to 17.5, taking some profits at 18 and 17.8.
LONG OPPORTUNITY:
If BTC is rejected at 18.3 and goes down, I will look for a long opportunity at 17.3 and 16.9. However, I will look for a clear failed wick down for that to happen.
A clearer long opportunity is if BTC drops to 16.4 and at 15.5 for sure. I will have pre-orders at 15.5 with 50% exit at 16.4 for profits.
Likes or comments are welcome =)
A rejection can take us down to 16.9 - 16.4. I don't know how strong the 16.9 support is; it was more a resistance lately.
SHORT OPPORTUNITY:
I will look for a short opportunity at 18.3. I generally don't like to short BTC as I believe in it long term, and I don't know how long it can be held down. But a clear rejection at the December 15th rejected high at 18.3 is a good set up. I would then short it down to 17.5, taking some profits at 18 and 17.8.
LONG OPPORTUNITY:
If BTC is rejected at 18.3 and goes down, I will look for a long opportunity at 17.3 and 16.9. However, I will look for a clear failed wick down for that to happen.
A clearer long opportunity is if BTC drops to 16.4 and at 15.5 for sure. I will have pre-orders at 15.5 with 50% exit at 16.4 for profits.
Likes or comments are welcome =)