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Quinton84
Apr 6, 2020 10:24 PM

Scalping opportunity Short

Bitcoin / United States DollarCoinbase

Description

we can see a micro double top forming indicating a capitulation from resistance. May be a good short opportunity.
Comments
faboose
Scalp to where? What is your R:R?
Quinton84
@faboose, great question. I rushed getting this out there because i had to run out the door for a bit. Depending on leverage and momentum, i would like for conservative profit targets at 7200 and at 7130. I should have posted more on the charts to show the thought process but i rushed it. But i'm see possible price consolidation at 7270. This consolidation will trigger one of 2 outcomes...most likely a bump up in price by 30-50 dollars due to the current uptrend of algorithmic trading, or a quick drop because a seller may take advantage of the order book consolidation
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