BitcoinShort
Shorting Bitcoin an Daily Chart
The bears are in full charge!
BTC has been in an ascending triangle for the past few days and is about to break down to the downside.
According to TD-Indicator rules you can enter a short trade when a red 2 starts trading below a red 1. As you can see in the chart, this condition will most likely be met today (Maybe even while I am typing this)
The TD-Entry is below the ascending triangle which is a great confirmation for the short play.
Interestingly enough the target based on traditional rules of the ascending triangle hits the 50MA + another support/resistence line based on the price action from the past 6 weeks.
Good luck trading
BTC has been in an ascending triangle for the past few days and is about to break down to the downside.
According to TD-Indicator rules you can enter a short trade when a red 2 starts trading below a red 1. As you can see in the chart, this condition will most likely be met today (Maybe even while I am typing this)
The TD-Entry is below the ascending triangle which is a great confirmation for the short play.
Interestingly enough the target based on traditional rules of the ascending triangle hits the 50MA + another support/resistence line based on the price action from the past 6 weeks.
Good luck trading
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