This is not financial advice.
I am not a financial advisor.
Here I see a good short opportunity at the trend line connecting ATH of Bitcoin to the latest High we set about a month ago.
Also, we can see frequent horizontal resistance on daily candle
Looking at the lower time frame we can find hidden bearish divergence.
Based on these confluence, I'd play my short here, just above trend line.
Why above trend line?
BTC is known to shake out the support and resistance by few percentile differences. Hence, we can play a safe bet by taking a position at the usual stop loss level.
TP is set right above 46k(demand zone)
You can play around with stop loss, based on your Risk taking capacity.
Again, I am not a financial advisor.
Thank you for the feedbacks.
I am not a financial advisor.
Here I see a good short opportunity at the trend line connecting ATH of Bitcoin to the latest High we set about a month ago.
Also, we can see frequent horizontal resistance on daily candle
Looking at the lower time frame we can find hidden bearish divergence.
Based on these confluence, I'd play my short here, just above trend line.
Why above trend line?
BTC is known to shake out the support and resistance by few percentile differences. Hence, we can play a safe bet by taking a position at the usual stop loss level.
TP is set right above 46k(demand zone)
You can play around with stop loss, based on your Risk taking capacity.
Again, I am not a financial advisor.
Thank you for the feedbacks.
Note
Update:Our Entry price is triggeredNote
Update: Stoped out
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.
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.