BTC has moved upto to 0.618 fibonacci retracement of its recent fall, from $35k area, the price action appears to be rejecting here on the 4h and traders can look to short btc with a stop above the 0.618 retracement and aim for 30k/28k. DXY looking very strong and the UK has recent had the FCA stop regulated activity from one of the largest crypto exchanges Binance. With eurusd and gold looking weak, its suggests to me price will run to the USD, and cause significant gains, causing the dxy to sky rocket, and a massive bear market appear in most asset classes. But for now we have the chance at good risk reward to take a short position on BTC in my opinion.
Trade active
taken a small short after that spike, lets see.Note
33400 entryNote
added another small position 33600Note
IF it continues up we should break $35k, worth keeping an eye on tooNote
final entry 34150 shortNote
stop loss @34500 low risk for meTrade closed: stop reached
Note
bad trade haha
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.