DislikedI'm not one to short BTC, but I wouldn't be surprised if she went down to S1 @ ~7900.{image} {quote}Ignored
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Bitcoin (BTCUSD) 744 replies
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BTCUSD Strictly Pivot levels 168 replies
Current chart shows how to find resistance. Look the volume&price. Find ND+SB confirmed pattern.
Plot the Zone at these levels. It would be a rational RFSB – resistance from Supply Bar. Wait for test and join bearish team after confirmations on the faster TF (such as minor buying culminations / SLKT).
The recent up-bar with big volume looks like killing SLs above 8300. Note, we have minor SB on background. Many Sellers, who entered shorts on 15th/Oct, placed their SLs above 8300. Now they knocked out. If this interpretation true, we will see a building of a Shape of weakness (Red triangle) with a new attack on line B.
Be cautious, price is moving near the center of the wedge. This is why the market is vulnerable to send confusing signals.
DislikedSKLT trap happened on the BTCUSD market recently. What are the inner workings behind this bar? 1) Green clusters - buyers are entering trap & sellers are knocking from their positions by Killing their SLs (SKLT) 2) Genuine supply enters the market and switches the direction down. While the price is holding under 8250 RFSB - the situation is bearish. The nearest support 8100. {image}Ignored
DislikedSKLT trap happened on the BTCUSD market recently. What are the inner workings behind this bar? 1) Green clusters - buyers are entering trap & sellers are knocking from their positions by Killing their SLs (SKLT) 2) Genuine supply enters the market and switches the direction down. While the price is holding under 8250 RFSB - the situation is bearish. The nearest support 8100. {image}Ignored