BTC update. Which point will become the LSPY?

6 Jun 2019

The correction of a dump is formed like a wedge with a wing, usually this pattern provokes upward BC impulse, giving us a buy signal. However, with the knowledge that we are in a dump phase, it's wise to think about short position. Let's take a look at resistance levels, each one can become a zone of the last point of supply (LPSY). Long story short, each of them is distinguished by its strength, means that from $8300 I would definitely open the maximum short position, and from $8000 I would sell 20-30% of it.

Targets of the downward movement are two strong levels: $7400 and $6800. The gap between them is actually one large support zone. I believe that it can become an accumulation zone.

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6 Jun 2019

Catatan