¿Bitcoin back to trendline?
Updated
Rising wedge broke down, MACD turning bearish, alma (21, 55) bearish cross, rejection of 50% retracement of the dump, potentially bubble bursting.
Targeting 1600-1700 area: major trendline from last sub 900 low, 377 ma, 61.8% retracement of the whole bull run, 1.272 extension of the correction and broken wedge target.
Stop-loss 2265
**I was cleaning the chart while the dump started, the entry for this short was the wedge breakdown at ~2230. I would enter over 2200**
Targeting 1600-1700 area: major trendline from last sub 900 low, 377 ma, 61.8% retracement of the whole bull run, 1.272 extension of the correction and broken wedge target.
Stop-loss 2265
**I was cleaning the chart while the dump started, the entry for this short was the wedge breakdown at ~2230. I would enter over 2200**
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2220-2250 is the place to enter this short
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This in coinbase targeting 1620-1720.
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I got trapped in that fake breakdown. Got stopped at 1.55% loss.Looking at that wedge now for a new breakdown.
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Could happen anytime soon. Be ready
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I still think there is a bear case.Comment
Closer look.
4h closing under 2500 or breaking 2460 would trigger my entry.
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Screaming top imo.
RSI, MACD and volume divergences, those wicks in the ath candles... ready to short down to 1700 area for starters
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