BTCUSD Short 4.4k

Riding the BTC wave down to a potential buying area, too risky to buy up here. Must be patient. It's like throwing a ball straight up in the air, the ball will pause at the top briefly and then start to fall back down and accelerate the whole way down.

Short targets: 4400-4500
Next target: 4100

Kommentera:

Here is a snapshot of the zoomed in level I am shorting.

You can see higher volumes as price comes up to the blue shaded area. This is indicative of selling and each subsequent visit to this zone we should see a decrease in volume (but still relatively higher) than the last visit. Once all of the buyers are absorbed price is able to move lower.