Shorting opportunity for BTC

Dec 23, 2018

There is a completion of the Bat pattern on the hourly.

Reason for entry:
Bat pattern completion
Double top at the D completion of the bat pattern
Bearish divergence on the RSI

Entry: $4191
SL: $4261
TP1: 38.6 fib of leg A to D
TP2: 61.8 fib of leg A to D

Dec 23, 2018

Note

Another reason for entry is the 2618 with the red arrows indicating the previous double top

Dec 23, 2018

Note

Target 1 reached. Moving SL to breakeven so that this is a no risk trade.

Taking 50% off the table and waiting for target 2.

Dec 23, 2018

Note

Dec 24, 2018

Trade closed: stop reached

Got pretty close to TP2 but got stopped out.