We have finally broken below the trendline that was formed and respected since May 13th as mentioned in the previous posts. It is now looking very strong for the bears. I am expecting to get a pullback towards the broken ascending trendline to enter further short positions. Next week we might see Bitcoin drop very hard so buckle up everybody, we are going for a ride!
Keep in mind that this isn't the strongest break and there could be a slight risk of this forming into a fake-out on higher time frames (4h & daily). Just take this into account as well.
Updates will follow up shortly regarding the entry!
This is NOT a financial advice, trade at your own risk!
Keep in mind that this isn't the strongest break and there could be a slight risk of this forming into a fake-out on higher time frames (4h & daily). Just take this into account as well.
Updates will follow up shortly regarding the entry!
This is NOT a financial advice, trade at your own risk!
Trade active
We retested the trendline later than expected, but we just saw a rejection from it! By shorts are now active and in profits!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.