BTC is currently in a bearish rising wedge after the initial drop from 4k+. We have retested and rejected the level at $4025 as we should, and as long as we keep below this level we are looking bearish for now. I'm still short from the 4k+ zone, but my SL is moved to right above the level we tested and rejected. I'm looking for a breakdown of this wedge with final profit targets on this short term short at $3650. Trade with caution, it's Monday again so when it drop we could get a big volume spike and liquidations will start coming.
If you are not yet short, entering here on a scalp is a great risk/reward trade. SL above the level and profit targets spread all the way down to 3650. Make sure to put your SL in profit right away if we drop so you know you will end in profit no matter what happens.
Make sure to like and follow for showing support :D I'm answering all questions in the comments
If you are not yet short, entering here on a scalp is a great risk/reward trade. SL above the level and profit targets spread all the way down to 3650. Make sure to put your SL in profit right away if we drop so you know you will end in profit no matter what happens.
Make sure to like and follow for showing support :D I'm answering all questions in the comments
Comment:
Trade closed: target reached:
Broke down successfully. No longer a valid chart. Take profit target hit