Short

BTC (Prj.Y19.P5.E4).Short.Opportunity

Updated

As per chart details.
Target, height of pole to bull flag. 9K
Major resistance at channel border 8750

1 HRLY chart up close.

Note

It got a big reject at the edge of the channel, On Binance, it was $8779,51

Note

Where from here. Well there is the 0.382 retracement level bounce but also we have a above resistance in the channel, ~8450. I see this is a critical moment to determine if people and bots have been scared off. If you had 2 selling points, 1 at the channel resistance and the other at the 9k, you would have mitigated your risk. Lesson, always assume in a down trend that the weaker hand will play and hence you can offset losses if you sell a large portion of your holdings at this move. At least break even, if its to drop. Make sure you have your break even price as a stop limit or there abouts, depending where you entered. For now, I will be waiting to see what happens at this level for the next 4 hours.

Note

Finding support around 8340

Note

ssari

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by ssari

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