BTC downtrend channel, SHORT AT 7000$, TARGET 5000$ Short

Bitcoin / United States DollarCoinbase

Description

⋅ Apr 8, 2018 6:54 AM

Assuming BTC keeps downtrend channel , entry is set based on channel, support (6.9k) Vvpr and bear fractals.
RSI and Volume will help confirm.
Stop loss set based on resistance (7.3k) and Vvpr.
Target based on bear fractals extensions and support 5k.
R/R : 5-1

Comment

⋅ Apr 8, 2018 8:51 PM

both wedge and channel were updated, still expect fill around 7000-7100$ and target remains 5050$

Comments

Pilot2022

⋅ Apr 8, 2018 9:01 PM

Then if end of january fractal extension repeats, expect bounce at support, then a further drop to 4300$ support, or 4000$ worst case.