Short

Bitcoin sky-dive [Short-term Swing Position / 1-2 days]

Updated

• Looks like the long anticipated correction for BTCUSDT is nearing as in the past couple of days it broke the ATH at the Short-term resistance line (2960USDT) and quickly free-fell afterwards, after trying to establish a new Short-term support and a Short-term resistance line ($2528-2700USDT), in the end it ended up bouncing from the support, touching the resistance, and quickly flying past the support line (like someone playing catch and on the second throw they aren't paying attention and fail to catch it). Now it looks like it will continue it's decline for the next couple of days as it follows the current downward trend line, which means it looks like there is a Short opportunity in play. Expect support at the Med-term resistance/Previous short-term support line (2025USDT).

• OBV has been decreasing slowly over the past week, indicating that volume and price of stock are slowly decreasing.
• Aroon confirms a downtrend by crossover of Aroon Down (Red) and Aroon Up (Green) between 30-70, Aroon Down also being above 70 indicates it is a very strong trend.

• TF: 1-2days
• BUY: 2375USDT
• SELL: 2020USDT
• STOP/LOSS: $2500/$2450

Always remember, don't risk what you can't afford to lose/Know your limit, invest within it.

Trade active

Short position is still strong

Trade closed: target reached

Note

Week Prediction: Drops to support, consolidates until its back on track with the long-term trend and then it's up from there.

Note

On way to retest resistance line

Note

New chart for BTCUSDT

Bitcoin nearing a buy zone [Market Geometry/EW]

Godly

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