The last 4h closed candle is clearly a bearish sign, add this to a bearish DIV clearly visible on RSI, OBV, CCI and the picture is clear. Moreover VLPR shows there isn't much price action at this level, probably because we're very close to a psychological price (50k).
I think the retracement should stop around VLPR's control line which is pretty close to 0.618 Fib level, a good one for a bounce back. However don't sleep on the 0.5 one, I'd short until 47.2K, an easy target with relative low risks. Off course the stop loss is mandatory whey you shorts, set your SL at 49.4k, I think it's decent deal with a Risk/reward ratio of 3 which is the minimum required.
Good luck
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my stop loss triggered so if I was wrong you're safe but I feel like BTC still has to go down again before pumping.... I don't know, what's your take guys?
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Sooner or later DIVs play out, my call was "too early" but correct as BTC it's retracing right now. That's why I always use stop loss for shorts. I hope I'll time it better next time.
Sooooo close to being stopped! Time to put stop loss at entry
Thanks for your idea!
ArmanShabanTrading
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Nice Analysis 👌🏼
ArmanShabanTrading
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I'll Be Honored if you see my analysis and tell your opinion 🙏🏼 and if you like them I'll be happy to follow me and my analysis ... However , thanks for sharing your idea with us 🙏🏼🙌🏼
Shotokhan
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@Ar_M_An_4, I'll check them as soon as I have time, I'm super busy at work lately :'(
thanks mate
Thanks for your idea!