Death cross (50/200 SMA) post bottom shows a historical liquidity grab (short squeeze) before maintaining the downwards trend in the long run. Anticipating a dramatic drop but not a new low.
Scaling into the long position at 34k on the retest of the support trend line.
Adding in to a full size position on a potential breakout.
Pattern invalidated when crossing sub 33.5k
Entry 1: 34k
Entry 2: At breakout level
Target: 50k
Price Action
BTC showing signs of weakness by forming LL‘s / LH‘s.
Formation
Bearish rising channel
Target
Previous resistance @~10‘500 USD
Probability
Breakdown: Medium
Reaching target: Low
Position sizing
Medium, as Risk Reward Ratio is likely below 3
