Bitcoin bulls are on the verge of throwing the towel. This is going to be one of the most lucrative trade in Bitcoin history. We cannot miss this which is why it is important to wait for the confirmation. First, we need to see a break and close below $9,235 on the 4H time frame. The next confirmation would be a break and close below $9k which will significantly decrease the odds of a bullish ambush.
In addition to the above, we need to see BTCUSD remain below the 50-moving average on the 4H time frame. The most important confirmation would be a break and close below the 200-day moving average but by then you'd have lost some really good entry points. One good strategy to short even if you are not a momentum trader would be to trade a break below the symmetrical triangle with effective risk management. It would also help to see BTCUSD lose the Ichimoku cloud support before you do that. Whatever you do, don't miss this trade.
LEARNING NEVER STOPS.
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In addition to the above, we need to see BTCUSD remain below the 50-moving average on the 4H time frame. The most important confirmation would be a break and close below the 200-day moving average but by then you'd have lost some really good entry points. One good strategy to short even if you are not a momentum trader would be to trade a break below the symmetrical triangle with effective risk management. It would also help to see BTCUSD lose the Ichimoku cloud support before you do that. Whatever you do, don't miss this trade.
LEARNING NEVER STOPS.
If you liked this analysis, please give it a thumbs up. Follow for more. Good luck! :')