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BTCUSD - Bearish Continuation. Short Entry Forming.

By ActiveCrypto
Updated
Entry point is below the support zone currently holding up price. If price breaks down and the bears push price further the next strong resistance area is the ~10,000USD area. There are several factors layering confluence in this zone: prior resistance, 62-78% fib zone, fib extension of prior leg down ( A,B, C wave).
Trade active
The trade setup is still intact. There is some signs of a reversal. If this current daily candle does not close higher than the prior opening, I would expect more bearish selling.
Trade active
This short is now active and moving in to the take profit stages. Trade management is key at this point.
Trade active
Time to scale out of the position. Nice trade. Price could go deeper so be patient and stick to your plan.
Trade closed: target reached
Target zone reached.
Bitcoin (Cryptocurrency)BTCBTCUSDbtcusdshortChart PatternscryptoCryptocurrencycryptotraderTrend AnalysisWave Analysis
ActiveCrypto

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