BTC 1 HOUR SHORT, 4 HOUR LONG
Bitcoin hit the 4 Hour "BUY" zone at 44.2k and we made good profits. We closed our 4 hour Long and switched to SHORT at the top (46.7k) , making money off of both moves.
It looks like the 4 Hour is currently Bullish engulfing, but 47.6k has been rejected and we are holding SHORT for the 1 hour to hit our 0.382, 0.5 and 0.618 Fibonnaci Take Profit areas.
Volume retested the top of the 1 hour on Bitcoin, as well as price retested the White trendline as you can see on the left hand side chart.
We will have to see also what happens with the VWAP (red/green dotted line) at the moment it is acting as support on the 1 min so we are READY to close our SHORT quick if this moves back up over 46.7k!
It looks like the 4 Hour is currently Bullish engulfing, but 47.6k has been rejected and we are holding SHORT for the 1 hour to hit our 0.382, 0.5 and 0.618 Fibonnaci Take Profit areas.
Volume retested the top of the 1 hour on Bitcoin, as well as price retested the White trendline as you can see on the left hand side chart.
We will have to see also what happens with the VWAP (red/green dotted line) at the moment it is acting as support on the 1 min so we are READY to close our SHORT quick if this moves back up over 46.7k!
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