Bitcoin (BTC/USDT) Short Position!

       September 5, 2022 1:08 pm

Bitcoin (BTC/USDT) Short Position!

In the BTC /USDT pair we have the formation of a descending triangle (a continuation pattern). Added to that, we have a bearish flag . Using the flagpole size we can target our short position at ~18541.

The price failed to breakout the smart money level (dashed line), which corroborates our short position. However, we have support at ~19501 so we can start a trailing take profit from the support level if it doesn’t break down.

Our stop-loss will be at ~20115 above the pivot level (~20038).


error: Content is protected