BTC Short to $7.1K

Please leave a like if you find value in this post. It is a really quick and effective way to show your support! Thank you and have a great day!

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This idea is valid after a 2H, 4H, or 12H closure below 7550. This paper trade idea idea is to short from resistance (the blue box around 7550) to support (the next blue box). We have some support around $7.5K, but stronger support in the low $7K area. One might consider closing out the trade to lock-in profits if the Bears do not show strength around the $7.5K support area.

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Entry Zone: 7980-7795.5

T1: 7575
T2: 7550
T3: 7450
T4: 7330
T5: 7168.5

Stop: 7979

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R:R: 2.2
Risk: 3.27%
Reward: 7.22%
Leverage: 5X
Leveraged Risk: 16.35%
Leveraged Reward: 36.1%


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Disclaimer:
This is not financial advice. I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. This is for educational purposes only.

Comment:

We just closed a 2H candle below the support box, which may not act as resistance. Waiting for a higher time frame candle close/re-test of the prior support box will ensure a higher probability for success.

Comment:

This trade idea is about ready for entry if we close this 4H candle below the blue box of peace and prosperity!

Let's get this crypto!

Comment:

All targets HIT after waiting for a 4H close below the blue box of peace and prosperity!

Let's get this crypto!