Stop-Loss-killers on BTCUSD. December invasion

Stop-Loss-killers on BTCUSD. December invasion

On the first days of December, #BTCUSD found some balance between buyers and sellers. Price did found a temporary calm between 7450 and 7250 (bold black lines).

But the market needs to make losers. That is why we got 2 fake moves.
1/ Probably all the bears who opened shorts on this red bar, were stopped out by…
2/ …this green wide pump. The buyers who opened longs on this up-bar, were stopped out on…
3/ …this wide red bar. Trading is a cruel business.

When the market made enough losers from traders (the good job is done), it wanted to rest for a while. That is why we can see another entering into the same balance between 7450 and 7250.

The main outlook is neutral.
4/ But this bar with long wide-tail and volume-spike (SLKT-style), it makes me a bit more bearish.

Have a great weekend.

Yes, You Can Become a Professional Chart Reader

To build success in any business, you should rely on things that really work.

In Chart Reading Method, they are three: The Law of Inequality, The Law of Supply & Demand, The Law of Effort & Result.

Download free books, to understand how can you apply the Laws and convert charts into profitable setups daily!

Enter your email to Download books

Start building your success with Chart Reading method. Let’s not go back to what wasn’t working anyway.

No spam is guaranteed.