BTC USDT SHORT OPPORTUNITY:
Short BTC @ 29,800, I'm honestly already in a short since 29,324 but could go higher to 29,800, maybe 30,200 and then reverse.
But I'm taking the risk cause it might not reach those highs and just drop from here as it is in a rising wedge & bear flag form.
Stop Loss 30,800
1st TP 27,000
2nd TP 25,000 @ 200 Weekly EMA
Now lets not forget U.S equity markets very correlated and, Trade is valid till we see a rebound in U.S equities, but am leaning bearish there as well.
Short BTC @ 29,800, I'm honestly already in a short since 29,324 but could go higher to 29,800, maybe 30,200 and then reverse.
But I'm taking the risk cause it might not reach those highs and just drop from here as it is in a rising wedge & bear flag form.
Stop Loss 30,800
1st TP 27,000
2nd TP 25,000 @ 200 Weekly EMA
Now lets not forget U.S equity markets very correlated and, Trade is valid till we see a rebound in U.S equities, but am leaning bearish there as well.
Comment:
My target entry points where spot on, I entered the trade too early shorting @ 29,324, but my stop losses are Loose, as per my analysis we should started seeing a reversal from here but i drew up another chart, I guess I could have gotten a better entry but in this chart missed out on some technical so might have shorted middle of a range , posted a corrective idea.