Why I Shorted BTC? 3 reasons
Updated
No1. You can see chart is showing lower low and lower high, which says us price is in clear down trend. So in down trend going short is safer than going long.
No2. We can see downward parallel channel. And now price is touching high of the channel. The high probability is price can move within this channel. To move in this channel price has to drop.
No3. I have shown a black color arrow mark, If you zoomed in the chart you can see. When I compare the price movement to the RSI levels it shows Divergence is forming. So Price can go down.
This is the 3 reasons thats why I going short in BTC.
If you agree with me hit like and follow me for future updates.
You can show your thoughts about this by commenting.
No2. We can see downward parallel channel. And now price is touching high of the channel. The high probability is price can move within this channel. To move in this channel price has to drop.
No3. I have shown a black color arrow mark, If you zoomed in the chart you can see. When I compare the price movement to the RSI levels it shows Divergence is forming. So Price can go down.
This is the 3 reasons thats why I going short in BTC.
If you agree with me hit like and follow me for future updates.
You can show your thoughts about this by commenting.
Note
This is a 1hr period chart.Note
Another Reason, bullish flag target also archived.
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