Scribes

BTCUSDT - up and down

Scribes Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
I have been viewing the last weeks (since the Jan low) as a reversal pattern, with higher highs and higher lows on a weekly and daily time frames. We are currently trading under significant multiday averages (20, 50, 100), and bounced off the 38200 level.
The current channel looks like a giant bear flag. We might break down further from here towards 36k and then 30k.
I am not short yet, and I am hesitating to go short due to the fact that I am fearing rally here. The reason I am expecting this rally is because in this channel, which looks like a giant bear flag, we have been creating higher highs and higher lows on the weekly time frame. We are not on the lower border of the channel and unless we brake below it soon I dont think we will see 36k for some time.

I will place a pending short @ 38700.
SL 40000
TP 38000

I will also place another pending long @ 39600
SL 39000
TP 42600


Trade active:
Short entry @ 38700
SL 39200 (by mistake i put 40k above)
TP 38000
Trade closed: stop reached:
Short killed.
Now lets see if we are going to enter the long.
Trade active:
We are long @ 39600
SL 39000
TP 42600
Trade closed: stop reached:
SL hit.
6 th trade in row.
Yet we managed to bounce around the 38k level.
No trading for today, just charts, data, and news.
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