BTC Broke Last Downside. Retest Not bullish. Down to 17400.

Dec 11, 2020

17400 is the next support for btc and seeing how harsh the daily close was, I expect for bitcoin to be bearish.
IMO it will be bearish for a few weeks/months as we are at the top of a distro phase.

If btc breaks through topside green box trade is closed.

Dec 11, 2020

Note

Sketching placements are not exact timing wise but height is most important

Dec 11, 2020

Trade closed manually

Did not reach complete TP of 17400 but it did attempt a breakthrough with no success. It wicked off of 17570 instead (which was another support)
Still not a lossful trade.
I will try to get better at spotting which levels are the most powerful in the future ;)