BTCUSD - Uptrend complete, time for correction and risky short?
BTC pumped over 26% in 2020 and we are now forming very interesting daily candle.
There is possibility we are trapping the shorts for another pump and possibly blow up top and wick above 10k.
There are 4 notable areas where significat action and trading opportunities will take place in my opinion, those are 9400-9600 resistance areas and 8700-8500 and 8270-7850 support areas.
As for now, risky 'top searching' short position is opened and idea is invalidated with daily candle closing above 8730. Closing of position will depend on price reaction when we revisit 8500.
There is possibility we are trapping the shorts for another pump and possibly blow up top and wick above 10k.
There are 4 notable areas where significat action and trading opportunities will take place in my opinion, those are 9400-9600 resistance areas and 8700-8500 and 8270-7850 support areas.
As for now, risky 'top searching' short position is opened and idea is invalidated with daily candle closing above 8730. Closing of position will depend on price reaction when we revisit 8500.
Comment:
Testing lower end of the channel. If we brake I expect retest of $8000.
Comment:
Very bullish reaction of the support channel.
