BTC Short-term short or setup for a nice long

Massive 1k decline followed by a bounce with decreasing volume. Failed to break newfound resistance at 9.3k. Time to chop up the mainstream trying to get in on the new found "bull run" before we see new highs.

Target: 8.9-9k

註釋

Target hit

註釋

Based on the lack of buy volume at this level, it looks as though 8.7-8.8k may be in store before we breakout of this descending wedge. See next chart post for more info.

註釋

If BTC fails to break 9.2k, 8.4k will be the next target. If we can close about 9.2 or better yet 9.3k, I will be looking to add to my longs. Keep in mind, each successive time that support is tested, it is more likely to break. If we reverse back to 8.9k again, there is a very very high chance that it will break down and btc will freefall to 8.4k before a massive pump. Disclaimer: BTC is in a medium term bull run and thus shorting is not recommended/dangerous until bear run is confirmed.

交易結束：目標達成

註釋

I have taken profit on my short again at the 9k level.