Seems like we have a confirmation for a short setup and the ABC correction of the current BTCUSD uptrend. After the recent drop to 10.3k resistance, BTC retraced to 0.5/0.618 Fibonacci Levels. The retrace formed an ascending wedge, which was impulsively broken down (the 1st short position was taken). After the first wave, it retraced (in a trend channel) to 0.5 Fibonacci and tried a breakout above. Resistance hold (the 2nd short position was taken). Trend channel was broke again impulsively with an increase in volume (confirmation). Stoploss of both positions are over the 0.5 Fibonacci and will be moved down with further development of the move.
The probability of correction seems to be higher. Let's have a look at further development.
No financial advice. I hope to give you some ideas and boost your creativity. Please give me some feedback
The uptrend is still intact in 30 min frame. Let's wait and see. The probability of a bullish triangle is there... Wait for the market to move
Trend channel retrace is down. Next stop 4H former trend channel.
4h trend broken... strong impulsive reaction down. Next 11k, 10,5k and maybe we see the 38.6% - 9,5k - Fibo of the overall up movement