Reasons of Short BTC:
1. Bitcoin is forming a possible shoulder-head –shoulder
2. Price cannot break Point of Control aka resistance area at 39501
3. Volume of Price at Resistance area is higher comparable to previous candles = signs of distribution
Set up:
Entry: Short at price below 39500
Stop loss: When Price moves higher than Point of Control line with large volume
Take Profit: 35000
1. Bitcoin is forming a possible shoulder-head –shoulder
2. Price cannot break Point of Control aka resistance area at 39501
3. Volume of Price at Resistance area is higher comparable to previous candles = signs of distribution
Set up:
Entry: Short at price below 39500
Stop loss: When Price moves higher than Point of Control line with large volume
Take Profit: 35000
Note
Down Trend confirmWhen looking at H1 time
Price just close below Point of Control with high volume
=
Sign of strength for price to go below further
Note
Set up goes as planTake profit price still at: 35000
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.