BTCUSDT pullback(exhaustion) or beginning of an uptrend with ATHReasons to short BTCUSDT -->
1) Downtrend's pullback, build up of bearish flag pattern
2) Multiple resistance to clear
3) bounce from resistance with no clear signs of follow up buying
Reasons to long BTCUSDT -->
1) Price showed bounce from support with morning star doji in 4H timeframe
if you are willing to short wait for confirmations like:
--> candle close below support + bearish candlestick patterns + follow up selling
if you are willing to long wait for:
--> candle closing above black trendline with multiple confirmations
take profits are in the chart for both positions
(Do your own analysis)
(NOT A financial advice)
(High chances of loss if you follow my idea)
Btcbearish
BTC wait for longs and shortsAs, we see BTC/USDT has been consolidating from last 14 days, so
1) If BTC/USDT breaks green trendline than it would be good to short on retest, and it is also forming a flag pattern (which is a continuation pattern) so we might see big correction with minimum 10% of move downside
2) But if bulls manage to break out of this kind of side-wise trend than it will show big move upside
So, huge moves are coming, if we break this sidewise trend (probably downside)
price might consolidate(or retest or take pullback) before breaking out
(Don't open any position on wick)
(Don't take trades based on this idea, even I don't trade according to my idea)
(Do your own analysis)
(NOT A financial advice)
(High chances of loss if you follow my idea)
BTC READY FOR SHORT/SELL | BE READY As you see above: (i) "In the daily timeframe BTC brake the Bullish Trendline & move slightly to the downwards" <<< here is the first sign
&
(ii) Another confirmation will be coming if it brakes 200 days EMA line
So, if both scenarios will match, you could be definitely entered in SHORT/SELL side . . .
ALL THE BEST
HAPPY TRADING