BTCUSDT to hit resistance around 70.5k and drop towards 67k

9 ביוני 2024

Here is a new short trade idea. The price has been pushing up after the last big drop around 5 percent. The price found support around 68.5k zone and since then it is pushing up slowly. This push has been really slow and likely to reach till the low TF resistance LTFR1. I expect that the resistance there would make the upward push of the price to stop and then push it downwards. This rejection of the price at that resistance level will lead the price to look towards the next support on its way down. The next major support is weekly support around 66.7k-67.7k. Therefore, a short trade favorable from there towards weekly support WS1 around 67k.

11 ביוני 2024

עסקה סגורה: היעד הושג

So we have a winner trade here. We shorted it from the resistance zone LTFR1 and targeted weekly support WS1 zone. The price got rejected from the bottom of that resistance zone therefore, could not scale full into this short position.
But good enough and wont complain. I thinj WS1 is a good place to go long, I will post a new setup, hopefull a long one. Stay tuned and let me know in comment how did you do with this trade.