The butterfly gave us a nice trade already. friday before close price rejected @ key resistance once again. we anticipate a second sell of towards the second target. watch your entry and stops, ideally wait for 1 or 2h close below 8008, this should be confirmation enough. trade safe.
* not financial advise
So you want to short BTC?
Welcome to the Club.
Notice that if during the last few weeks hot air movement any support was build, that is the pink box, so better think twice before shorting here.
Now we could see this support build strength for a move up to either:
horizontal resistance @ 8200ish,
wedge retest @ 8400ish
hourly fakeout candle @8900ish
The trend is still strong upwards... notice the last pink arrow the correction was more dramatic, we can still go sideways for at least 12 more hours without endangering the trend.
Notice the rejections too, how the wicks are short lived, meaning strong support, and that there was no 4h (nor even 30 m nor 15 m close below the previous swing high at 7570.