BitcoinShort
Bitcoin 200-day EMA Rejection Short
Play on rejection of 200-day EMA after bulls fail to break the downtrend with tight stop loss.
Entry: 41,000
Stop Loss: 44,000
Target Price #1: 35,000
Target Price #2: 30,000
Target Price #3: 25,000
At each price target move stop loss to 10% over target value.
Reasoning:
Risks:
Entry: 41,000
Stop Loss: 44,000
Target Price #1: 35,000
Target Price #2: 30,000
Target Price #3: 25,000
At each price target move stop loss to 10% over target value.
Reasoning:
- First dip below 200-day EMA of the bull run. Sharp rejection possible.
- Potential government intervention in US and China.
- High volume selling along with increased volatility.
Risks:
- Celebrity pumps can trigger tight stop losses on shorts.
- Rapid bounce after first drop indicates strong buying power ready to deploy.
- Bullish L2 news could cause rapid trend reversal to highs.
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