As we now see on this 4 H chart, after some price action today, we might have formed some kind of a reversal diamond here... BTC UP UP UP!?
As we came from a downtrend, we might reverse back up here. This would confirm our new/previous support at the 7400 areas.
I would watch the 6800 areas and then the 7400 areas, as they will be strong resistance after the break out to the UPSIDE!
But still... I am more of in a neutral position here... But BTC shorts at ATH and market sentiment screaming for 5 k areas... is very tempting to open a LONG position on the breakout... Will watch it carefully!
Happy trading!
*This is not an financial advice, this is only an idea. Do your own research and act on your responsibility.
As we came from a downtrend, we might reverse back up here. This would confirm our new/previous support at the 7400 areas.
I would watch the 6800 areas and then the 7400 areas, as they will be strong resistance after the break out to the UPSIDE!
But still... I am more of in a neutral position here... But BTC shorts at ATH and market sentiment screaming for 5 k areas... is very tempting to open a LONG position on the breakout... Will watch it carefully!
Happy trading!
*This is not an financial advice, this is only an idea. Do your own research and act on your responsibility.