Bitcoin 200-day EMA Rejection ShortPlay on rejection of 200-day EMA after bulls fail to break the downtrend with tight stop loss.
Entry: 41,000
Stop Loss: 44,000
Target Price #1: 35,000
Target Price #2: 30,000
Target Price #3: 25,000
At each price target move stop loss to 10% over target value.
Reasoning:
First dip below 200-day EMA of the bull run. Sharp rejection possible.
Potential government intervention in US and China.
High volume selling along with increased volatility.
Risks:
Celebrity pumps can trigger tight stop losses on shorts.
Rapid bounce after first drop indicates strong buying power ready to deploy.
Bullish L2 news could cause rapid trend reversal to highs.
