Bitcoin (BTC/USDT) Short Position!
Hello Cryptonauts,
In the BTC/USDT pair we have the formation of a descending triangle (a continuation pattern). Added to that, we have a bearish flag. Using the flagpole size we can target our short position at ~18541.
The price failed to breakout the smart money level (dashed line), which corroborates our short position. However, we have support at ~19501 so we can start a trailing take profit from the support level if it doesn't break down.
Our stop-loss will be at ~20115 above the pivot level (~20038).
In the BTC/USDT pair we have the formation of a descending triangle (a continuation pattern). Added to that, we have a bearish flag. Using the flagpole size we can target our short position at ~18541.
The price failed to breakout the smart money level (dashed line), which corroborates our short position. However, we have support at ~19501 so we can start a trailing take profit from the support level if it doesn't break down.
Our stop-loss will be at ~20115 above the pivot level (~20038).
Trade closed: target reached:
Target has been hit
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