BTCUSDT - Wanna go hit the fence?
We've seen an amazing push in BTC and in crypto in general but, I don't know, I can't believe that the bottom is in yet, looking at the actual situation.
It doesn't seem like the market is in risk-on mode quiet yet, so anyhow, I'm going for a small short on BTC, back to previous level @ 22500. Sorry I didn't show it before, I'm in since the wick we've had a couple of days ago on H8 as you can see with my position
But here is the situation with BTC, after a big push we're starting to see what looks like a double top, with a divergence on oscillators on higher timeframes. The price recently broke under 23500, which appears to be a strong level. It poked the 22750ish level, before to go and retest the 23500 area. I was then watching for price action to go short, aknowledging that we were at a trendline, and that price actually reacted to the 3rd touch of the trendline but, not much follow trough and, looking a the macro, I'm bearish BTC for now.
It's tight, I'm definitely babysitting this one untill it leaves my level, but, price action gave me enought reasons to enter this short term trade, so, I did.
Cheers everyone and as always, trade safe!!!
It doesn't seem like the market is in risk-on mode quiet yet, so anyhow, I'm going for a small short on BTC, back to previous level @ 22500. Sorry I didn't show it before, I'm in since the wick we've had a couple of days ago on H8 as you can see with my position
But here is the situation with BTC, after a big push we're starting to see what looks like a double top, with a divergence on oscillators on higher timeframes. The price recently broke under 23500, which appears to be a strong level. It poked the 22750ish level, before to go and retest the 23500 area. I was then watching for price action to go short, aknowledging that we were at a trendline, and that price actually reacted to the 3rd touch of the trendline but, not much follow trough and, looking a the macro, I'm bearish BTC for now.
It's tight, I'm definitely babysitting this one untill it leaves my level, but, price action gave me enought reasons to enter this short term trade, so, I did.
Cheers everyone and as always, trade safe!!!
Trade closed: target reached:
Right on the spot, another one!!!
Comment:
It's consolidating right on the trendline so you know what his means, either up or down again, but, looking at how much it coils, next move is probably going to be strong, goign to publish another idea about it right now