BTC Short Entry - The trend is your friend!

The global trend is downwards. This being said, we did break down to a previous trendline which acted as support and is upwards - a higher low formed. We are beginning to be squeezed into a triangle.

We bounced from the top trendline which acted as resistance and now I anticipate and hope to continue moving downwards, once again touching that bottom supporting trend.

A nice little catch if so!

Comment:

Target hit and we sunk all the way down to the trend line.

As I was watching, I removed my take profit and moved up my stop loss. Acting as a trailing stop loss, I then set the TP to 17970 and hit.

Lovely :)