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Bitcoin
Short

8/11 BTC Short

By kingofpebbles
I think this is just a relief rally/short squeeze of bottom shorters, hit the OTE, didn't get the best entry though. Average 6370 on XBTU18 futures. After an extended down move like this, probably shouldnt use .618 fib, and just use .705 and .786. Targeting the liquidity of the previous local low around 5750, not sure how low, so definitely taking profit along the way. First take profit is 5635.
Trend Analysis
kingofpebbles

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