Short

BTCUSD

By wolffarchitecture

Updated

Seen this before. short tern bearish need to go now, good luck

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Comment:
in case I am wrong:
Place 50% stop at 43868
Place 50% stop at 44073

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before adding to bearish position will look for price to lock under 42,000 as resistance and aim for a min of 40,000 to take % profits

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I typically do not update posts However:

Took 25% short profits at 41500 seemed like a good number
(currently 75% short position remaining still active, still think there is more near term bearishness potential, ) but being realistic:
Seems like wave 4 action, Yet bull are buying dips and making level gains
Low volume weekend sentiment seems bullish
Therefore:
Lowered 50% short position stop to 42,722 with final short trade exit at 43,474. just before short entry price of 43,500.

If short trade closes will look for long set ups, to flip long

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35% original short position started at 43,500 still active, stop at 43,474, will add to short if price confirms resistance below 42000 . otherwise just ride it out and look long

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stopped out just below short entry, short trade closed. managed with minor profits due to best practice profit taking. Now looking for long setups looking for retrace and support patterns above 43,5000
all in all seems a chopping unproductive trade until new high above 44,000 for long, or a breakdown below 42,000 for short

Note

Low volume spike

wolffarchitecture

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