risky bitcoin short with small risk
BTC looks weak now
Im trying to short BTC from 52400 to 52669 area
trade is valid if we see strong action to this level without noticiable pullbacks before reaching this price
SL could be tight 52800 or bigger 53400 depends how you want risk
TP 51600 50600 rest open till 45K
I saw today netflow increase in night so more BTC came to exchnages last night so they may dump at some point after big dump usually other dumps follow
I could be wrong but this odds are bigger for this scenario now
bitcoin is really struggling last time and even without bad news we saw many after follow dumps so Im not ruling out such chance
I mean risk to reward is almost 1 to 10 if I gave 8 such trades and 7 hit SL and 8th hit TP we would still be in profit, this my idea
its like insurance policy if you have lot of coins
next levels for short 55100 SL 55400
same targets if we go above chances are we may be heading towards 70K
generally if bitcoin moves 4 to 5 to 6K in one day hit daily EMA 4H ema and any of these resistance levels always good idea try to short
another short is 56500 again tight SL and watch closely
personally I watch second chart when I see 3 seconds price stable and if we are in exact level I short and put SL very tight like 100USD and if bounce 500 usd close 10 to 20% position just compensate if hitting SL
Im trying to short BTC from 52400 to 52669 area
trade is valid if we see strong action to this level without noticiable pullbacks before reaching this price
SL could be tight 52800 or bigger 53400 depends how you want risk
TP 51600 50600 rest open till 45K
I saw today netflow increase in night so more BTC came to exchnages last night so they may dump at some point after big dump usually other dumps follow
I could be wrong but this odds are bigger for this scenario now
bitcoin is really struggling last time and even without bad news we saw many after follow dumps so Im not ruling out such chance
I mean risk to reward is almost 1 to 10 if I gave 8 such trades and 7 hit SL and 8th hit TP we would still be in profit, this my idea
its like insurance policy if you have lot of coins
next levels for short 55100 SL 55400
same targets if we go above chances are we may be heading towards 70K
generally if bitcoin moves 4 to 5 to 6K in one day hit daily EMA 4H ema and any of these resistance levels always good idea try to short
another short is 56500 again tight SL and watch closely
personally I watch second chart when I see 3 seconds price stable and if we are in exact level I short and put SL very tight like 100USD and if bounce 500 usd close 10 to 20% position just compensate if hitting SL
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