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Bitcoin
Short

Shorting BTC along upper diagonal's channel

By maxvinculum
Updated
This is a short position which has a good chance to be successful (70%). the trending channel showing clearly BTC's price should continue its way down with a lower high which should hit the red triangle's area in the next 12hr or so. Note that the red area is just in line with the next resistance at 10151. Rational longs from the bouncing up on lower diagonal's channel and fomos from half way up through the channel are pushing BTC's price up and will be confronted to this strong area with smart longs closing their trades near that red triangle area. Tight stop loss should be set up (225 to 275 pts out of the money). half position should be covered plus or minus 10% half way down (green line) whichever makes you comfortable... and covering the remaining position at rik on that lower diagonal. In case it bounces before hitting goal at or around 7950, please make sure you cover it at entry price to keep that short profitable. Let me know if my idea concurs with yours. Thank you for reading me and Godspeed!
Trade active
OK, closing half position here at last!!! looking for 7934 with remaining position. Hope you guys making money on this one too!!!
Trade closed: target reached
target reached!
Chart PatternsTrend Analysis
maxvinculum

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