2021-09-16 12:14:19
Good morning!
1H BTC chart
Yesterday, after a slight correction, BTC broke through the resistance level of $47,500. With difficulty and slowly, but buyers still managed to push the price to the next resistance level of $48,500. The price is being squeezed to this level, there have already been 4 unsuccessful attempts to break through, but so far the offer at the level prevails. The next attempt may be a breakdown, which will open the way to $50 thousand.
We do not recommend shorting against the trend now. Yes, the movement is slow and without much volume, as a result, it seems that the tool is about to fall in the opposite direction. This type of movement encourages participants to open shorts, as a result, this morning +40% of BTC shorts. The market maker moves the price in the right direction for him, and shorts can act as a good fuel for growth.
But on the other hand, we came to an equally strong resistance, bought off about 50% of the last fall, and the movements really did not have much activity on the part of the buyer. Therefore, now the best position is to stay out of the market and wait for the activity of one of the parties. Shorts should be considered for a return under the level of $47,500, and longs-above $48,500.
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