BitcoinShort
(Failed) Ascending Triangle - Short BTCUSD
Updated
Reasoning:
-Bearish divergence on the RSI.
-Low volume, bulls were unable to break this resistance twice on higher volume.
-Was unable to sustain the break above the top of the ascending triangle and price quickly crashed below 11400.
-Overall bearish trend and strong resistance area.
I am expecting the ascending triangle to break down and result in a retest of the double bottom at 10k
Set stop loss above 11600.
TP1 10300
TP2 9300
TP3 8200
-Bearish divergence on the RSI.
-Low volume, bulls were unable to break this resistance twice on higher volume.
-Was unable to sustain the break above the top of the ascending triangle and price quickly crashed below 11400.
-Overall bearish trend and strong resistance area.
I am expecting the ascending triangle to break down and result in a retest of the double bottom at 10k
Set stop loss above 11600.
TP1 10300
TP2 9300
TP3 8200
Trade active
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.