BTCUSD: A Potential Fade
Updated
Reasons to consider getting out of short risk exposure if the highlighted area fails:
These reasons might trigger some traders to short or sell this pair; however, in terms of probability, the market still favours bullish bias, evidenced by the context to the left.
The break of the highlighted bullish structural gap area can serve as a warning for short risk exposure. If that happens and higher timeframes close below that area, that can be considered as a decent indication towards further downside for short risk exposure.
Constructive discussions are always welcome, just drop a line in the comments section.
- Bearish Divergence
- Break of Structural Gap
- Overextended state
These reasons might trigger some traders to short or sell this pair; however, in terms of probability, the market still favours bullish bias, evidenced by the context to the left.
The break of the highlighted bullish structural gap area can serve as a warning for short risk exposure. If that happens and higher timeframes close below that area, that can be considered as a decent indication towards further downside for short risk exposure.
Constructive discussions are always welcome, just drop a line in the comments section.
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