BTCUSD: TIME TO WELCOME BACK 9800ish??
Updated
BTC seems to move in an uptrend channel on 4H and at top of the channel now. It means we have an opportunity for a scalping short.
Why short?
- 4H nice bearish div.
- Too many rejections at key resistance (10500)
- Sideways action below key resistance will push impatient bulls to take profit by closing longs.
Short built: 10380 to 10500
Stoploss: Daily above 10550/10600
Taking profits: 1010x/1000x (instant target), 985x / 980x (major target), 97xx/9680 (last target)
* This is counter-trend trade. Play with low leverage.
Good luck traders and dont forget to give me a like.
Why short?
- 4H nice bearish div.
- Too many rejections at key resistance (10500)
- Sideways action below key resistance will push impatient bulls to take profit by closing longs.
Short built: 10380 to 10500
Stoploss: Daily above 10550/10600
Taking profits: 1010x/1000x (instant target), 985x / 980x (major target), 97xx/9680 (last target)
* This is counter-trend trade. Play with low leverage.
Good luck traders and dont forget to give me a like.
Note
Watching this low TF since I think this is it, til daily close.Note
The 500$ drop was sharp and had some volume that matches the pattern. If 9700ish can hold and bounce then the area 10100-10200 is very interesting and worth to have an eye on.
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