Hi
Here are my reasons to short in this situation:
Bitcoin is in a downtrend right now and as you can see lower highs and lower lows
There is a considerable risk to reward ratio here.
The trend is below both 8 and 14 EMAs
Fibonacci levels show us clearly that the trend couldn't pass through 0.618
Besides that, look at the beautiful pink trendline.
If you like the idea, please hit the like button and subscribe to the profile to not miss my updates. The information given is never financial advice. Always do your research too.
Here are my reasons to short in this situation:
Bitcoin is in a downtrend right now and as you can see lower highs and lower lows
There is a considerable risk to reward ratio here.
The trend is below both 8 and 14 EMAs
Fibonacci levels show us clearly that the trend couldn't pass through 0.618
Besides that, look at the beautiful pink trendline.
If you like the idea, please hit the like button and subscribe to the profile to not miss my updates. The information given is never financial advice. Always do your research too.