BitcoinShort
BTCUSD
I do think that multiple confluences can turn my bias on BTCUSD to the downward. By the way, I'm considering a SHORT on the BTCUSD because of the following:
1- Recovery of the (DXY) USD Index
2- Formation of the H&S pattern - The H&S neck seems to have been broken and retested but let's wait for that level to hold and see strong bearish price action - rejection at the resistance zone..
3- There is also an ascending channel formed
4- Price broke a key level to the downside and it still holds it.
However, in the long-run I remain still bullish on the overall long-term trend of this pair and this current SHORT setup could potentially mean a short-term sell-off...
Your feedback is highly appreciated! Many Thanks in advance!
1- Recovery of the (DXY) USD Index
2- Formation of the H&S pattern - The H&S neck seems to have been broken and retested but let's wait for that level to hold and see strong bearish price action - rejection at the resistance zone..
3- There is also an ascending channel formed
4- Price broke a key level to the downside and it still holds it.
However, in the long-run I remain still bullish on the overall long-term trend of this pair and this current SHORT setup could potentially mean a short-term sell-off...
Your feedback is highly appreciated! Many Thanks in advance!
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