🔥 Perfect Bitcoin Short Initiated: Bearish Triangle!

13 בספט׳ 2023

Recently I made an analysis on BTC's bearish triangle and the short-entry I was hoping for. The original resistance that I drew (yellow) has not been hit yet, but instead the purple line has proven to be a strong resistance. Support/resistance lines, especially diagonal ones, can be fluid, so I drew the triangle again.

I'm waiting for the price to reach below 26k to make a short entry, target at 20k. This gives us a very decent short-term entry with a huge R/R of 11.5. A more risk averse trader might want to wait for the definitive bearish break out and enter below 24.9k

14 בספט׳ 2023

הערה

Top line hit, no entry has been made yet.

14 בספט׳ 2023

הערה

Daily close above the yellow line will invalidate this trade. No entry has been made yet.