Prices are moving in a downtrend after having broken out to the dowside of a descending triangle. After a momentary correction, prices could possibley continue further down, with a final target of around 15 600. However, nothing is guaranteed, so always take your profits earlier if they come.
So the price is making the classic impulse and correction moves again! And the market will obviously try to fake us out by driving the price up closer to the descending trendline, before going in our original intended direction (short). So what i did this time is to give the market enough room to breathe, in the form of a stop loss at 109.074 (above the highs) and...
Price is setting up nice for the next bullish wave up!
Great RvR on this trade. With BTC technically setting up for a nice
move up it adds a greater level of likelihood for this
one to go favorably as well.
Trade with care my friends :)