GreyPool
Short

BTC looks like it wants the 8100-8400 area

BINANCE:BTCUSDT   Bitcoin / TetherUS
Once in the 8100-8400 range it seems further accumulation can take place but not before then

- the daily down bar on the 24th is on low to average volume and average spread which means it is a signal of a lack of support and strength
- the subsequent low vol up bar on low spread confirms the lack of strength
- the next major support area is 8100-8400

Counter trend trading is risky; the more conservative trade is to wait for accumulation and take a trade with the trend

However there is a scalp opportunity to the short side
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Comments

Why trendline like this if u place it 1 bar to the right the chennel is correct ??
Reply
GreyPool arjan23
@arjan23, That's an example of a broken trendline, you can redraw it but with less price points touching the line it would be less useful
Reply
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