SMALL + MEDIUM (Q4) TF idea.
#Bitcoin seems to be struggling with it's 20K level (can be used as SL) , after a strong rejection from 0.618 zone,
struggling with it's Trendline Resistance coming from ATH of 69.000$
and 200EMA.
Worth mentioning is that 17K has provided strong support and a good spot for buyers to DCA.
Many others are being patient not buying Bitcoin here, rather waiting for lowers prices.
In case 17K support fails to hold as support, far more downside is coming for $BTC weekly supports of 13-15k.
In SHORT for now, but it may be a stopped out entry - scenario.
Stoploss last Highs of 20K, stopped out = Double Top Short opportunity
Anticipating $DXY to correct a bit, so the market may rally some next week.
Next shorting opportunity break-down pattern retest, last highs, and the break down of 17K
Will be looking for longs post-trendline break out with volume above avrg. and support base confirmation (break-out price action's correction)
As far as I'm concerned, we are in a down trend and I ain't trading against it as a knucklehead.
Bitcoin can hit 40k tomorrow and still be fundamentally bearish on the Macro.
Trendline break-out will provide further confirmations for #Bitcoin to be trading at 20-30k price levels.
Until the next one;
TRADE SAFE
NOTE THAT THIS IS NOT FINANCIAL ADVICE
Please consult your own Financial Consultant before partaking on any trading activities based upon this idea
#Bitcoin seems to be struggling with it's 20K level (can be used as SL) , after a strong rejection from 0.618 zone,
struggling with it's Trendline Resistance coming from ATH of 69.000$
and 200EMA.
Worth mentioning is that 17K has provided strong support and a good spot for buyers to DCA.
Many others are being patient not buying Bitcoin here, rather waiting for lowers prices.
In case 17K support fails to hold as support, far more downside is coming for $BTC weekly supports of 13-15k.
In SHORT for now, but it may be a stopped out entry - scenario.
Stoploss last Highs of 20K, stopped out = Double Top Short opportunity
Anticipating $DXY to correct a bit, so the market may rally some next week.
Next shorting opportunity break-down pattern retest, last highs, and the break down of 17K
Will be looking for longs post-trendline break out with volume above avrg. and support base confirmation (break-out price action's correction)
As far as I'm concerned, we are in a down trend and I ain't trading against it as a knucklehead.
Bitcoin can hit 40k tomorrow and still be fundamentally bearish on the Macro.
Trendline break-out will provide further confirmations for #Bitcoin to be trading at 20-30k price levels.
Until the next one;
TRADE SAFE
NOTE THAT THIS IS NOT FINANCIAL ADVICE
Please consult your own Financial Consultant before partaking on any trading activities based upon this idea
Trade active:
Trade Still Active
SL not yet triggered
#Bitcoin has just broke out of a Trendline Resistance coming since it's All Time Highs of 69.000$
Can it be that this break out is a fake one TA speaking ?
More confirmations needed to validate or nullify the short idea released.
For now, Short position still opened.
Trade Still Active
SL not yet triggered
#Bitcoin has just broke out of a Trendline Resistance coming since it's All Time Highs of 69.000$
Can it be that this break out is a fake one TA speaking ?
More confirmations needed to validate or nullify the short idea released.
For now, Short position still opened.
Ascending Wedge Pattern Break Down
Short taken prior at Trendline Resistance flirting and pattern being formed on smaller timeframes