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Bitcoin / TetherUS
Short

BTC/USDT - Short term SHORT with 2 Target Zones

By YinYangAlgorithms
There is a potential for a short term SHORT trade on BTC/USDT. If todays bar closes < 34.7k (~3.5 hours till close) there is potential for a short. There are two target zones:
  1. Yellow zone, this is the most likely zone it may dump to between 32.5 and 32.8k
  2. White zone, between 30.3k and 31.8k, this may happen if the lower level of 32.5k in the Yellow zone fails to hold. Please note that the upper level of this zone at 31.8k may also act as a Support.

There are many reasons why this short may happen:
  • The price faced resistance at the trend line.
  • The price has closed above the upper purchase zone level since October 16th, and it MAY close below it today.
  • We are currently in a Blood Diamond which has been confirmed (white circle within the YinYang Momentum Oscillator).
  • YinYang RSI is at 98.08 and very Overbought and is closing in with the YinYang RSI MA which is now at 94.94.
  • The Buy Volume is bending towards the Sell Volume.
  • YinYang Momentum is very Overbought, the predictive mountain is already angling towards the regular and may dump inside of it soon. Likewise we can see the Confirming Blood Diamond appeared on the current bar (white circle).
  • YinYang Momentum Trend Line has turned Bearish.


The reason it may correct to these zones specifically:
Yellow Zone:
  • The Basis line is here.
  • There is a Downwards Trend Line within here.
  • The Fourth level of the Purchase Zone is there.

White Zone:
  • The high of 31.8k was a long lasting Resistance Pivot.
  • the low of 30.3k is where the Volume Profile is.
  • the low of 30.3k faced lots of resistance recently.


Please note this is a short term short, on the long term BTC may remain bullish.

Indicators used to make this analysis:
  • YinYang Trend
  • YinYang Volume
  • YinYang Momentum
  • YinYang RSI
cipherpatternmoving_averageOscillatorspivotlevelsrsi_divergencersioverboughtsignalsTrend AnalysistrendlineanalysisvolumeprofileanalysisVolumeyinyang
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