BitcoinShort
Short 7150$ - 6K (3:1 R/R) BTC Holds Downtrend Channel
Updated
Provided BTC holds downtrend channel, expect to fill order between 7100-7200$ optimal (7050$-7250$ wide range) with stop above higher resistance/ Vvpr high point. Expect Volume and RSI to help confirmation.
Short until above main support (5850$), at 6050$-6000$ for emotional price support.
IfBTC breaks channel wait for possible sideways movement and test of support of top of channel, if support confirmed around 7000$ above channel, expect to exit trade prior to stop loss as theory is no longer valid.
BTC holds downtrend channel, expect to fill order between 7100-7200$ optimal (7050$-7250$ wide range) with stop above higher resistance/ Vvpr high point. Expect Volume and RSI to help confirmation.Short until above main support (5850$), at 6050$-6000$ for emotional price support.
If
BTC breaks channel wait for possible sideways movement and test of support of top of channel, if support confirmed around 7000$ above channel, expect to exit trade prior to stop loss as theory is no longer valid.Note
ENTRY A - 7150$ short time frame respectedENTRY B -7000$, further sideways motion, longer time frame respected.
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