Short

Bitcoin Multi-Timeframe Short Opportunity

Updated

Currency Pair: BTC.USD
Time Frame: 4hr & 1hr
Predicted Direction: Short

Live 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.
Should my daily predicted direction be incorrect no trade opportunity will be generated.

Note

A 1hr pullback is now underway.
Over the coming hours we will know a little more information in regards to a live short opportunity.

Note

Daily structure levels to be aware of.

Bitcoin - The 5 Structure Resistance Levels

Note

A textbook pullback to the 1hr AOI, possible downside from here although nothing yet is confirmed.

Note

At current price we are seeing no rejection of the 1hr structure, no trade at the moment.

Note

A break and close below $7830 would also confirm the 1hr head and shoulders formation.

Note

Price continues to provide no evidence of reversal, be cautious in executing any short trading as present.
No trade.

Note

Looking at the 4hr TF we are simply retesting the ascending trendline, however for me there is no trade until $8250 gets broken to the downside.
Apologies for the slow response to questions, i will be getting back to everyone in the coming hours.

Note

Price forming a double top ( 4hr TF ) just below $9,000 however for me still no trade opportunity due to price failing to accelerated away from resistance levels.
Keep your cash safe, patience is the key on this one.

Note

Additional breakdown, this time using harmonics.

https://thttps://www.tradingview.com/chart/BTCUSD/kVtxxQva-Bitcoin-Proper-Planning-Prevents-Poor-Performance-5ps/

UnknownUnicorn180388

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