BTC Short from 11k to 8.5k
Updated
Resistances at 11k - 50 and 34 EMA on the 4hr chart, 100 and 200 EMA from the 1hr chart, trendline from the previous 2 highs.
We are probably on an ABC correction, making the 2nd wave (up) at the wave C and going for the 3rd (down) anytime soon.
At 8.5k we have a 0.5 fib from the whole uptrend starting Dec to 14k, going to find support there. Stop at 12.5k or 14k. (13% and 27%). Target at 8.5k, 23%.
We are probably on an ABC correction, making the 2nd wave (up) at the wave C and going for the 3rd (down) anytime soon.
At 8.5k we have a 0.5 fib from the whole uptrend starting Dec to 14k, going to find support there. Stop at 12.5k or 14k. (13% and 27%). Target at 8.5k, 23%.
Note
Also 0.50 retrace from the 1st wave of wave C at 11k. Wait for a reversal at this area to start the trade.Note
Trade is probably cancelled. I will consider open it if we close the daily below the trendline again.
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