BTC - Symmetrical Triangle Short

Hello Future Millionaires!

If BTC breaks down from this symmetrical triangle and retests broken horizontal resistance for support, then I'll be looking for a short entry to the bottom of the medium-term range.

---
Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!

-Yellow lines are typically used to chart out pattern formations and trend lines!

-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).

-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.

-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.

---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!

---
Entry: 18836.0
Entry Zone: 18950 - 18690

T1: 18485
T2: 18100
T3: 17715
T4: 17200
T5: 16500.0

Stop: 19336.5

--
R:R: 4.67
Risk: 2.66%
Reward: 12.40%
Leverage: 15X
Leveraged Risk: 39.9%

Leveraged Reward: 186%
Risk Assessment: MEDIUM-HIGH

---
Disclaimer:

This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.

These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.

Comment:

1H-4H Stochs all pointing down aggressively shows immediately downside momentum/pressure.

Comment:

We have at least 17 touches on this price channel and it is holding as support, at least for now!

If we break down into it again, I suspect we'll touch the bottom side once more, if not continue further.

Breaking into this channel adds confluence to the potential broken support, flipped to resistance!

Comment:

Here we can clearly see additional confluence of support with the yellow 21EMA and the 0.236 Fibonacci. All this confluence points to this being a nice pivot area for a nice risk:reward setup!

Comment:

The 1st target was hit before the bulls took control! Nothing wrong with a nice base hit! We'll have some more home runs and grand slam setups in the not too distant future, rest assured, this market is just getting warmed up!

We should see new ATH with BTC within 2-3 months, provided prior trends continue!

So much fun!

T1: 18485 - HIT!!! (27.95% gain)