Here's a short opportunity based on bitfinex long/shorts ratio, weekly close volatility and bear market considerations. Not an investment advice, only for educational purposes.
Before going lower, we need some liquidity. and in my opinion, that liquidity resides upwards ( level shown with REQ). This is a high risk trade, so manage your risk.
price broke the 5.22-5.32 area once again. we can expect som pullback on lower time frames as shown below, which will give us an even better RR ratio. target,stoploss and tps shown on the chart. manage your risk =)
market structure seems broken on 1hr. so this is bullish , but i expect another retracement to green area. this would be a good opportunity to long in term of R:R . if it breaks current level without a retrace, an agressive entry with same stop and targets can be playable, but keep in mind we're in a bear market, and you must have at least two good reasons for an...