breakoutfakeout

Short BTC now at resistance? Rising wedge reversal

Short
COINBASE:BTCUSD   Bitcoin
BTC looks good for a short trade.

I will look to take profits at the break of the rising wedge reversal pattern (and some before as well).

Nice divergence on the RSI to, longs have run out of steam I think for now.
Comment:
Will be looking to take first profits at resistance below at 5980 then 5610. Once 5 min moving averages have crossed to downside will look to hold for more profits at 5050 ish
Comment:
Not much downside, closed out long before stop was hit, look for another re-entry higher

About me: I'm a retail day trader (trading since 1993). Most ideas here are for short time frames and become profitable quickly. I take profits fast as things change fast. 1-2-1 mentoring sessions available.




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