Short term BTC

We are at the top of the ascending triangle with an engulfing candle forming. MFI also showing an overbought region. I think we might see another trip down to 10600 then break out.

So for couple of hours i'll be short on BTC and probably buy back at 10600 levels.

Comment:

That was an impressive -false- break out indeed.

Now that we are in the correction. We might go down to trendline support at 10800 and bounce back up. Or break down further to complete the H&S on the daily.

Trade closed: target reached:

Indeed we saw the bounce at 10800. Bought some BTC to scalp until we reach the top of the ascending triangle. Worked out well. This was certainly an action packed night...