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peterbokma
Nov 12, 2021 9:40 AM

BTCUSD - SELL strategy Short

Bitcoin / U.S. dollarBitstamp

Description

BTCUSD is setting up for sharp decline is my humble opinion.
Kagi chart has double topping formation, and we are currently slightly above $63.980 support line.
The Kagi will change color, which is the first condition for change of direction. The 9-period MA is approaching, and a break below will confirm downtrend.

Remain short, and sell at current with stop-loss $ 65.800. Profit objective near $ 50k and if broken we will move towards 36k.

Comments
wirosableng212
May I ask, why did you used kagi rather than the normal candlestick?
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