BitcoinShort
Short entry - several RSI-divergences forming
Price got rejected at the short liquidity zone around 70K.
Two RSI divergences at the last high.
Possible short entry with tight stop and 1 : 3 profit target.
Two RSI divergences at the last high.
Possible short entry with tight stop and 1 : 3 profit target.
Note
Pending order got filled today.
Made a mistake, profit target is 1 : 2.5, not 1 : 3, to close the breakout from 14th October.
There is a chance that the breakout from 11th October will be closed as well, which will give us a profit target of 1 : 3.5 - 4.
Next breakouts to close then would be 17th and 9th September.
Note
I suggest to close the trade.
Between 23rd and 25th October a strong RSI divergence was formed and currently we're seeing the building of a W-pattern. At this point the trade rather seems to hit the stop loss.
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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.