10,000 Ft View – 4 Hr Chart
What I like about the level to short is it appears to be a magnetic for price and price has topped and is round down.
So the set-up was on the 1 hr chart, were price consolidated, then took out a pivot low before pulling back.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
Anyone who was watching today so a heck of a price swing out of BTC. Price pushed through 9,000 only to give it back minutes later to begin a near-term sell off.
Shaking Weak Hands?
Many people have theories about candles like these, they press through a commonly watched level to trigger buy or sell orders only to whip right back in the expected direction.
Look at the hourly chart I have posted here. That first big volume big body red candle is a clear indication of that. Anyone who was short BTC using the most recent high as their stop got owned
