BTC short small trading setup

see chart for setup

Trade active

Shorted 2562.

Looking at the 15min /30min / hourly chart i see the rsi is topping.
Looking at the 4hr chart the rsi could still go up some more.
it's possible that were getting a small re-test of the bottom or make a bounce above the last bottom and go up some more after that for a upper trendline test.

This time i'm not going to close my short at the bottom if it tests because of the possibility of a crash (bearish sentiment). I will anticipate the bounce if it comes and add to my short around 2600,

Stop will remain at the same place above the upper trendline

Trade active

added more to short at 2570

Note

Im seeing several patterns emerge, that support the move to around 2635~. I am thinking of closing 50% of my short and open more at 2600+ to average up more, and prevent losing too much if btc decides to break up.

But im also thinking i should stick to my plan, keep the short and just add a the last 25% at 2620~, but that would mean risking a -2-3% pnl at upper trendline level, where it is possible btc could break to the upside and me having a large loss.

I think i'm going for a 50% close, so I minimize risk and gains in case the drop happens earlier than 2600.

Trade closed manually

closed waaay to early :(

RegideTrader

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RegideTrader

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