TradingView
kingjk092
May 31, 2021 8:01 AM

BTC Bear riding ;) Short

Bitcoin / U.S. dollarBitstamp

Description

Hi there
It seems to me that BTC could give a nice shorting opportunity here, the confluences I can count:

1- Current medium term trend being bearish.
2- Triangle pattern.
3- Bearish divergence on MACD.
4- Break down the support on MACD (confirmation for divergence trading).

What are your thoughts?

Ofcourse this not a finnacial advice :)
(trading based on someone elses idea is just naive)

Have a good day
Comments
m44kka
i can see trend reversal very soon
kingjk092
@m44kka, That's a possiblity too, and for that reason, a trader should always have a stop-loss
m44kka
@kingjk092, Yeah I learnt that lesson the hard way
More