I expect price to touch 60k first then drop towards major support at 45k. Market makers know most people's stops are at 60k which is why I suggest making this the entry for the short. 1. Market sentiment from majority of traders is bullish which means we prefer to be bearish. 2. Price action is displaying corrective characteristics, not impulsive. 3. Buyer's want a better price and would prefer not to buy at a resistance zone. They want a discount.
This post is for educational purposes only and is not intended to be financial advice.