DONT MISS THIS SELLING TRADE ON BITCOIN!!!

hey traders,

on bitcoin we have very nice potential selling opportunity:

on 4H chart we have almost completed bearish harmonic bat pattern.
Looking left we see that the pattern completion point matches perfectly with
a significant level of structure resistance looking left.
+RSI shows clear divergence.

on 1H chart we see that the market is trading inside a rising wedge pattern.
It is a very important pattern, which indicates weakening momentum and contraction.
Also, take a closer look at a rejection candle. This candlestick is very telling,
and indicates strong bearish pressure around 5360 level.

last, but not least:
take a look at volumes,
we see a clear weakening of volumes!

Our plan is to sell the bearish breakout of a rising wedge,
with targets based on structure
T1 - 5200
T2 - 5050

good luck!

Note

I received many questions concerning this trade.
So technically there are to styles of trading harmonic bat pattern:
1)aggressive - selling the market as soon as it reaches 88,6 retracement of XD leg
2)conservative -
Identify a selling zone and sell only after a confirmation signal (wedge pattern in this occasion)

Note

almost hit T1

Trade closed: stop reached

VasilyTrader

✅Join My Telegram Channel: t.me/VasilyTrading

❗️YouTube Channel youtube.com/c/VasilyTrader

✅ Facebook: facebook.com/VasilyTrading/

⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐

Also on:

Related publications

Easter eggs pattern on Bitcoin

by VasilyTrader

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.

VasilyTrader

✅Join My Telegram Channel: t.me/VasilyTrading

❗️YouTube Channel youtube.com/c/VasilyTrader

✅ Facebook: facebook.com/VasilyTrading/

⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐