BitcoinShort
BTC Dump to 8800 or 7900
1. Weekly stoch is oversold and reversal is eminent
2. Daily, 3 Day, and Weekly volume is near zero at 10k resistance.
3. Daily volume has been decreasing as we approach 10k resistance
4. Weekly candle is short with no wick. We couldn’t break 10k resistance
5. Bearish divergence on 3 Day stoch. Entering oversold range
6. 7, 30, 50 Day EMA are converging. Sign of reversal or consolidation.
7. 55 Day EMA has been consistent S/R over the past year. Test as support @ 7900?
8. High liquidity @ ~8800 & 7900. Targets 1 & 2 for short position
POTENTIAL TRADE: Short
Enter --> 9780
Target 1 --> 8800
Target 2 --> 7900
2. Daily, 3 Day, and Weekly volume is near zero at 10k resistance.
3. Daily volume has been decreasing as we approach 10k resistance
4. Weekly candle is short with no wick. We couldn’t break 10k resistance
5. Bearish divergence on 3 Day stoch. Entering oversold range
6. 7, 30, 50 Day EMA are converging. Sign of reversal or consolidation.
7. 55 Day EMA has been consistent S/R over the past year. Test as support @ 7900?
8. High liquidity @ ~8800 & 7900. Targets 1 & 2 for short position
POTENTIAL TRADE: Short
Enter --> 9780
Target 1 --> 8800
Target 2 --> 7900
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