Bitcoin's Next Move Short-Term ($7,700 or $9,200?)

Bitcoin (BTCUSD) has been moving lower short-term. The chart above is showing multiple bearish signals as follow:

• Trading below resistance in the form of EMAs (EMA10, 50 and EMA100).
  
• Bearish MACD and RSI.
  
• Increasing bear volume.
  

For this reason, we are short short-term.

The blue dashed lines are the targets for this drop.
The red dashed line is our stop-loss, remember that charts are always changing and direction can change easily, so we prepare for all scenarios.

This is not financial advice.

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Trade: SHORT XBTUSD [Bitcoin

Leverage: 6X

Buy-in: $8,050 - $8,150

Targets:

(1) $7,900 |Hit (+14.58%)
(2) $7,800 |Next target
(3) $7,700

Stop-loss: Close 4h candle above $8,195.

Liq. price: $9,652
(Buy-in calculated at $8,092)

Potential profits: 30.5%

Capital allocation: 6%.

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