BTC 4Hr Chart (May 26, 2022)

May 25, 2022

Took a small short position earlier at 30K (limit order was hit). My thesis is that it’s forming a barrier triangle which is commonly found in wave 4 type of correction. My stop loss is above wave C (refer to this chart) which is at 30.8K and my initial target is the barrier line that connects B and D which is at 28.6K (1:2 rr). Some of my other targets are also shown. There is no guarantee that this will be the case result. NFA