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$BTC just probed a low near 695 and has now reached 700. I've been discussing this all day. In terms of overall direction, the bearish outlook remains unchanged.
It's just that the 712 short I mentioned today exited at 702.
The low was 695, but as I mentioned, the space above 700 is not mine to trade.
Theoretically, price should see a minor bounce around this 700 level. I don't want to stay up late recently. If the price breaks 700 but fails to hold, it will continue down to the next vacuum zone at 688. However, this will take time to play out.
I've been staying up too late the past few months, so I'm trying to close all positions before 1 AM now.
This movement seems a bit odd with something not quite right. It feels like a big candle could suddenly appear.
Light short position at 712; will exit at 702. If it breaks below 702 and continues lower, it's outside my profit range anyway.
For the 712 short position exit situation:
1. Exit all on downside break of 702.
2. Downside break of 702, set profit target at 300 points.
Will notify on actual live trading.