BTC/USD Short: FibCloud Rejection and 200MA Target

3 hari lalu

On the 8-hour BTC/USD timeframe, I have executed a short position following a clear rejection from the FibCloud, signaling strong resistance at this level. The price action showcases a classic flip of old support into new resistance, further solidifying bearish momentum.
My target for this trade is the $90,000 price zone, aligning with the 200MA on the 8-hour chart. Additionally, order flow data confirms significant sell-side activity, with large orders clustered between the $90,000 and $89,000 levels, providing further confluence for this setup.
The trade is structured to capitalize on the retracement move, with the potential for price consolidation or reversal upon hitting the 90K psychological and technical support zone.

Technicals:
• Entry Trigger: Rejection from FibCloud and resistance flip.
• Target: $90,000 (aligned with the 200MA and key order flow levels).
• Stop Loss: Positioned above the FibCloud to mitigate risk.
• Order Flow Insight: Large sell orders between $90,000–$89,000 add weight to the bearish scenario.

This setup emphasizes a disciplined approach to risk management, leveraging technical and order flow alignment for optimal execution. Stay sharp, and remember to pay yourself!

Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.

kelmarin

Dagangan aktif

I’ve secured some profits at the 92,500 level, locking in gains as the trade now stands at 6% in profit. The position is officially risk-free, as I’ve adjusted to manage risk effectively going into the holiday season.

This ensures capital safety while allowing the short trade to capitalize further if the market continues downward. Enjoy the trading week, stay sharp, and remember to pay yourself!

7 jam lalu

Nota

The trade has returned to the entry price zone, which also aligns with the Point of Control (POC) of this range. I am now reconsidering whether to let this trade run further or close it at breakeven. Notably, there are still large orders below the 91k level, offering potential opportunities if the market dips.

At this point, I only hold a small portion of my initial position, as I made it a low-risk trade by selling most of it earlier. This aligns with the cautious approach I adopted due to the holiday narrative. Enjoy the holidays, stay sharp, and always remember to pay yourself!