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cosmic_indicators
Feb 10, 2023 6:47 AM

Overlap of $BTC supports can pull price Short

Bitcoin all time history indexINDEX

Description

When levels overlap across timeframes, in addition to acting as a strong price "wall", the point of overlap often also acts as a price magnet, attracting the price to test its strength. This is the situation shown in the chart, where both resistance and support overlap across the 6h and 15m timeframes. The short position stop and target are set accordingly.
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