This is my trade that I see as very logical and has a risk/reward ratio of at least 1:4. I can extend it to Fibonacci level 1.618 as the final target. I will decide this at the 1.13 level.
Depending on the outlook, the short position target may still be pursued. Seller pressure is starting to appear.
My trade with a risk/reward ratio of 1:4.5 with the negative divergence and change of Character (CHOCH) for Bitcoin
The latest task I shared has reached its goal. Congratulations to those who followed. 🙂
After a long horizontal trend, I entered a short position transaction as there was a strong breakout. IT IS NOT INVESTMENT ADVICE!
It seems that there is a loss of strong buying pressure for Bitcoin. There is a developing view that sellers are starting to enter the market. I would consider taking a short position with a confirmation move if the support line is broken. #BitcoinMarket #CryptocurrencyTrading #SellOffPressure #ShortPosition #SupportLineBreak