Still Shorting BTCUSD
Updated
Hi all,
Just took profit on a few shorts back at 52k, adding them back in now at 55k.
Shorts are still in play as BTCUSD retested the previous support (black) now acting as a solid resistance. Shorts have been hit and a correction needs to happen.
Currently setting my take profit levels at a lower low than the previous drop since I still can't see a clear support level from it.
Regular divergences are showing up on the RSI 14 indicator (dashed lines) meaning that BTC is bound to retest the previous drop.
I still can't say that this insight would be accurate but I'm eager to see where this goes. Trade lightly and as always, trade at your own risk. Happy trading!
Just took profit on a few shorts back at 52k, adding them back in now at 55k.
Shorts are still in play as BTCUSD retested the previous support (black) now acting as a solid resistance. Shorts have been hit and a correction needs to happen.
Currently setting my take profit levels at a lower low than the previous drop since I still can't see a clear support level from it.
Regular divergences are showing up on the RSI 14 indicator (dashed lines) meaning that BTC is bound to retest the previous drop.
I still can't say that this insight would be accurate but I'm eager to see where this goes. Trade lightly and as always, trade at your own risk. Happy trading!
Trade closed: stop reached
Didn't go as expected. Good thing I've only placed a few shorts in
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