Short

Bitcoin Rejected by Resistance - Short Trade 20190720

Updated

Symbol: Bitcoin, XBTUSD, BTCUSD
Timeframe: 30M
Indicator: 9 Seasons Rainbow Multi TimeFrames Pattern

Signal:
Short Timeframe: 2H Yellow: Resistance worked
Long Timeframes – Context: Red – Bearish

SETUP: SHORT
ENTRY @ 10550
SL @ 10751
T1 @ 10301
T2 @ 10101
T3 @ 9801

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DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make your own decisions, carefully assess risks and be responsible for your own investing and trading Activities.

Trade closed: stop reached

Interesting range and breakout, Bitcoin is appealing like this.

Note

Long Wick, Fighting so hard.
Reopen short position

Note

In case the Yellow becomes Lime and keeps, which may indicate a breakout. Since the range is so long, the breakout can be violent; so as the downside.

Trade closed manually

At 10670, Bull looks win.

Note

Yellow -> Lime: Resistance is overcome.

Note

Since the breakout faded, Lime -> Yellow on 2H timeframe, I go short for this signal:

Bitcoin Resistance Worked - Short Trade 20190721

go8686

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