Short

Bitcoin - $8,900 Short Opportunity

Updated

Trade Pair: BTC.USD
Time Frame: Daily, 4hr, 1hr & 5min
Predicted Direction: Short

BTC.USD updates will be available in the comments section below.

The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.

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Price hadn't pulled back deep enough for a short entry, however i will be keeping a close eye for a second consolidation which would = a short opportunity.

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Should price break and close below $8285 expect the next bearish impulse, forming the new lower low.

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Given the current aggressive pullback, keep an eye on the $8,900 ( 4hr TF )

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Price is respecting the 4hr chart resistance at 8.9k
Depending on the impulse i will look for a short opportunity.

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Keep an eye out for $7,900 over the coming day / days.

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New Trade Idea.

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Price once again retesting the $8,000 structure support.
Awaiting a potential reversal.

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UnknownUnicorn180388

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