BTC has broken down the small triangle consolidation.
BTC is currently performing a short-term re-bouncing after broken down the triangle consolidation as well as couple of major support SMAs (20,100, 250).
Take note of the potential re-testing of key level of triangle consolidation 36000 to 36500, which also contains the strong resistance, the 100/250ma.
Short position is recommended IF only the confirmation bearish candle occurs after the re-testing of key level. The stop loss should be placed above the DH of bullish candle at 03/Jun/2021. The target is around 27000. It is a potential R&R 1:3 trade.
Take note of the potential re-testing of key level of triangle consolidation 36000 to 36500, which also contains the strong resistance, the 100/250ma.
Short position is recommended IF only the confirmation bearish candle occurs after the re-testing of key level. The stop loss should be placed above the DH of bullish candle at 03/Jun/2021. The target is around 27000. It is a potential R&R 1:3 trade.