BTC 4HR Analysis - Short Opportunity Right Around the Corner
BTC has failed three times in its attempt to ascend to the top of the bull channel with three-pin bar bear candles closing on or near their lows. It's been a slow bleed to the downside ever since last Friday. We are nearing the 200EMA on the 4HR and should expect some support here. A good short entry may be at the end of the next bull bar or two if you're not already in a short.
We should be looking for a breakout of the channel bottom with a bear bar closing on or near its low, followed by a retest of the channel resistance, and a confirmation bar to the downside. Such price action calls for a short back down to the bottom of this trading range we've been in since March of this year, which sets a target price of $25,000.
Trade wisely and let us know what you think in the comment section below!
We should be looking for a breakout of the channel bottom with a bear bar closing on or near its low, followed by a retest of the channel resistance, and a confirmation bar to the downside. Such price action calls for a short back down to the bottom of this trading range we've been in since March of this year, which sets a target price of $25,000.
Trade wisely and let us know what you think in the comment section below!
-Joe Dean
Trader Engineering Course
**Available Now at TraderEngineering.com**
Trader Engineering Course
**Available Now at TraderEngineering.com**
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。