BTCUSD H4: Key S/R levels and market outlook (NEW)

Nov 28, 2020

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BTCUSD H4: Key S/R levels and market outlook (NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT because I expect up to
15% correction after BOUNCE.

🔸 Summary and potential trade setup
::: BTCUSD H4 chart review/outlook
::: previously broke down
::: due to price/rsi divergence
::: right now bear flagging on H4
::: expecting BOUNCE however
::: heavy resistances overhead
::: 17800 USD 500K BTC bought
::: 18200 USD 450 BTC bought
::: heavy resistance / unlikely
::: that those levels will break
::: 16800 USD 300K BTC bought
::: 16200 USD 200K BTC bought
::: strong supports however
::: also will likely get re-tested
::: by BEARS
::: recommended strategy: SHORT INTO BOUNCE
::: near 17800 USD SL 18200 TP1 16800 TP2 16200 USD
::: SWING TRADE: SHORT/HOLD IT
::: pullback not over yet
::: good luck traders!
::: BUY/HOLD and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: MIXED
::: Sentiment short-term: BEARS/CORRECTION