The Most Important Horizontal Zones During the Consolidation II

Hi everyone, in this technical analysis I want to follow up on the previous idea, now that we have more information on what happened with the recent price movements on BTC.

Here I published that I believed the price would move downwards even though the price was only halfway the horizontal zones. This wasn't a good suggestion in retrospect, why would a trend suddenly reverse if it's not at a pivotal point such as near a horizontal resistance zone.


If we zoom in and look at the blue box, we can see that the price beautifully continued directly towards the first one of resistance. Now, on the 1h we are seeing an immediate rejection candle. I suggest to enter a short position towards the support zone, and only then enter a long position for the next bullish continuation of BTC

Trading-Guru