BTCUSD: TIME TO WELCOME BACK 9800ish??
BTC seems to move in an uptrend channel on 4H and at top of the channel now. It means we have an opportunity for a scalping short.
Why short?
- 4H nice bearish div.
- Too many rejections at key resistance (10500)
- Sideways action below key resistance will push impatient bulls to take profit by closing longs.
Short built: 10380 to 10500
Stoploss: Daily above 10550/10600
Taking profits: 1010x/1000x (instant target), 985x / 980x (major target), 97xx/9680 (last target)
* This is counter-trend trade. Play with low leverage.
Good luck traders and dont forget to give me a like.
Why short?
- 4H nice bearish div.
- Too many rejections at key resistance (10500)
- Sideways action below key resistance will push impatient bulls to take profit by closing longs.
Short built: 10380 to 10500
Stoploss: Daily above 10550/10600
Taking profits: 1010x/1000x (instant target), 985x / 980x (major target), 97xx/9680 (last target)
* This is counter-trend trade. Play with low leverage.
Good luck traders and dont forget to give me a like.
Note
Watching this low TF since I think this is it, til daily close.Note
The 500$ drop was sharp and had some volume that matches the pattern. If 9700ish can hold and bounce then the area 10100-10200 is very interesting and worth to have an eye on.
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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.