BTC | MT Short H4|Consolidation Period

Pair: BTCUSDT
Timeframe: H4
Direction: Short

Technical Confluences for Trade:
- Stochastic momentum is close to Overbought Conditions
- Price action close to few Horizontal and Resistance Trendlines
- Aiming for the 1st 23.6% Fibo Retracement

Fundamental Confluences for Trade:
- There is a large diversion between the positioning of Long-Term & Short-Term Participants in the futures space. A squeeze may happen.

Suggested Trade:
Entry @ Area of Interest 70,700 - 71,200
SL @ 72,685
TP 1 @ 68,600 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 65,700
Risk-to-Reward @ Approx. 3.19(Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.

Trade closed: target reached:

Market riots from the Israel-Iran concerns. Hopefully, war doesn't break out.

Targets Achieved.