BTC SHORT - Intermediate reversal Trade

5 Jan

BTC has formed a shooting star close on the monthly chart, and also has a head and shoulders showing up on many time frames (1D, 2D,etc.)

It is having a hard time breaking into the 99K + resistance area.

I have an adaptive short trade here.

Blue Box entry, blue box - 96,500 - 99K Stop loss just above 100K

Red Box Entry, if price goes into the red box 99k-104,500K - stop loss above ATH price of 108,321ish


Take Profit 1: 85K

Take Profit 2: 81.3K

Take profit 3: 78K

Take Profit 4: 72K

Take Profit 5: 66K


I have a lot of take profit areas up because it is hard to tell how big of a correction BTC will have overall if it does have a correction. I do see the potential all the way down to 52K, though.

Thanks and trade safe!

8 Jan

Dagangan aktif

The red box was basically perfect entry, so far so good!