BitcoinShort
Short Bitcoin at Price below $39500
Updated
Reasons of Short BTC:
1. Bitcoin is forming a possible shoulder-head –shoulder
2. Price cannot break Point of Control aka resistance area at 39501
3. Volume of Price at Resistance area is higher comparable to previous candles = signs of distribution
Set up:
Entry: Short at price below 39500
Stop loss: When Price moves higher than Point of Control line with large volume
Take Profit: 35000
1. Bitcoin is forming a possible shoulder-head –shoulder
2. Price cannot break Point of Control aka resistance area at 39501
3. Volume of Price at Resistance area is higher comparable to previous candles = signs of distribution
Set up:
Entry: Short at price below 39500
Stop loss: When Price moves higher than Point of Control line with large volume
Take Profit: 35000
Note
Down Trend confirmWhen looking at H1 time
Price just close below Point of Control with high volume
=
Sign of strength for price to go below further
Note
Set up goes as planTake profit price still at: 35000
Trade closed: target reached
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