BTC likely ascending channel. Short near 11500 - strong drop...
Hey guys, this is going to be a very good and profitable play for us.
Look for the upthrust that should be coming soon in this accumulation descending channel. Around 11500 is a good place to enter this short. You have a 3:1 ratio of this being in your favor with a potential 3% move. Target is around 11150, however we could potentially enter whats known as a spring event and dive even further. Ultimately you could short this down to 11k
Good crossover on 1 hr stoch, I'd like to see the RSI nice and high before the fall.
There is a potential we pop up to 11600 or so, but stay with the trade, we will fall... Don't get too overleveraged, you know how dirty exchanges play this game. Just look for solid profit. I'd say 10x-20x leverage will suffice at the highest.
Now go get some profit...
Look for the upthrust that should be coming soon in this accumulation descending channel. Around 11500 is a good place to enter this short. You have a 3:1 ratio of this being in your favor with a potential 3% move. Target is around 11150, however we could potentially enter whats known as a spring event and dive even further. Ultimately you could short this down to 11k
Good crossover on 1 hr stoch, I'd like to see the RSI nice and high before the fall.
There is a potential we pop up to 11600 or so, but stay with the trade, we will fall... Don't get too overleveraged, you know how dirty exchanges play this game. Just look for solid profit. I'd say 10x-20x leverage will suffice at the highest.
Now go get some profit...
Comment:
Hey guys, updated in a new idea. Strong fall is still favored. Updating short from target to around 11600, and tp around 10900.
This is the current UT playing out in the larger descending channel.