It's a risky play because it's against the trend. -price is retesting the weekly resistance -obvious divergence on MACD -possible trend reversal?
Very simple trading idea that works well most of the time. BTC lost its channel support. this short idea will be triggered when it retests the channel resistance. SL: if the price reclaims channel i'll close my position and change my bias.
We have a very strong support around 112-114 area. With a SL around 110, there is a beautiful R&R ratio Buy:112-114 Stop: 110
symmetrical triangle on 1H chart, it will breakout soon.