STRONG SHORT 🔴 Lenin Would Be Proud Of This Short
We were one of the first traders who called short (26 July) when BTC spiked above 40k, and everyone else was calling ATH, moon, and bull run. You asked me if the idea ("All-in BTC Short 🔻 TP: $31 700, x10") was still valid: Yes, it's still correct. So, this is a clean remake of the same idea to reinforce our position.
🔴 KEY POINTS: - RSI is strongly overbought - Momentum hit RSI Resistance - Price Action hit Historic Resistance - Machine Learning (Artificial Intelligence, Linear Regression ) says upcoming Resistance - Bitmex Funding Rates favor short positions - Bitmex Troll Box is overbought (90% long) - Bitfinex whales started to short - Okex Top Traders have more shorts than longs - Chart Pattern: This Technical Indicator Variation worked 100% in the past
We've got BTC short. All-in.
Trade active
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Bitcoin Price Action hit resistance with volume and activated our trade: Side: Short Pair: BTC/USDT Target Price: $31 700 Stop Loss: $50 000 Entry Price: $40 000 - $45 000 Leverage: x10
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As we predicted, the Price Action attempted to break up, but there wasn't enough Momentum to stay above the Resistance Line. We've seen a Volume Rejection, and Bitcoin continues its way downwards.
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Congratulations on your profitable position if you follow this Idea! 💸 Trail your ROI wisely.