Short

Short BTC

Von douglasaa

Aktualisiert

I see evidence of distribution going on at current price levels

Trade ist aktiv

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Trade active at $8149

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Pennant may fly up for a bull trap at some point however so far so good.

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TP1 7745
TP2 7200
TP3 6700
TP4 6050

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Potential bounce zones to scalp

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Reminds me of my last trade. Buyer volume picking up already and divergence on lower timeframes. Took 20% profits at 7820

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Stoploss to breakeven now, as we have just hit the neckline of the inverse H&S, an area bulls will want to defend

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Sell volume still increasing. Taking another 30% profit at the 7200 support

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Took 30% profit at 7600 as this is a bounce zone

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Still expecting a lot more downside, however I expect a sharp bounce at the bottom so it is always good to hedge/take profit when reaching a bounce zone, you can always sell back at the top of the bounce

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Expecting a bounce to 7800 soon and will reshort using the 30% profit

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Looks like the bounce has hit the 38.2 and completed. Reshorting using the 30% profit I took with stop loss above 7900

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Moved stoploss on the short from 7800 to breakeven.

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Moved stop loss on the inital short to 7900 (in profit)

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So if you had moved the stop to 7900 you would've most likely gotten stopped out (in profit). This looks like a market maker shakeout, I am still bearish and will be looking to reshort.

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As stated earlier, the price could've flown up back into the pennant. I will remain bearish and think it is a bull trap however will wait for confirmation. This could've been a corrective elliot wave

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Waiting for the 4h candle to close. A close below 8000 is our signal to sell. Remain cautious and keep an eye out for increasing sell volume.

Trade ist aktiv

Reopen this trade if the price hits 8225 (bitfinex), stoploss at 9006, target is the same.

Trade wurde manuell geschlossen

Hidden bull on the 15 minute chart. This could get quite choppy however upside for bulls is limited. Keep stoploss at 9006

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I sense a bull trap coming. Theory will be invalidated if volume picks up on the break of 8600

douglasaa

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