SHORT Entry Bitcoin [BTC/USD]

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has pulled back significantly over the last week, and has now given us the numerical indications of a momentum change on the 4H chart.
  • Bearish MACD trend confirmation.
  • Oversold RSI , could potentially mean a pullback before continuation downwards.
  • Cross of EMA 75 and on downside of short-term EMA .
  • Smart mom indicator saying bearish (purple)
There is a double bottom on a larger time frame, but I think there is too much short term momentum and there will be a sell off back to 10k level. A fakeout is still on the cards however due to previous interactions with the 75 EMA , in this instance it is more likely to continue falling then fakeout back across the top of the EMA due to the previous interactions with the 75.

Area of take profit is the horizontal support at 10k, giving a nice risk/reward of 2.04 meaning we only need a 33% strike rate to break even in the long term.

Thanks for reading the idea, be sure to give a like and a comment! What do you think will happen with bitcoin?

Be sure to follow us so you're kept up with our projects!
Comment: BTC Avoided the potential pullback and looks like it will run to 10k. Unfortunate on no entry but sometimes this will happen.
Keep up to date on our future projects-
Website- http://quantcat.io
Twitter- https://twitter.com/QuantCatTrading
Instagram- https://www.instagram.com/quantcattrading/

OR JOIN US ON DISCORD: https://discord.gg/cc9ySBF
appreciated your content, in the end we are all students of the market and learning constantly from it, i also give the best value i can to the community, i'm sure you would like it
+2 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out