Sell below 9100. Stop loss at 9431. Take profit at 8644.
Reason for the trading strategy (technically):
BTCUSD broke out of its ascending channel where it is now testing its support at 9100 (61.8% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support). If broken, we expect prices to fall to its next support at 8644 (38.2% Fibonacci retracement, horizontal swing low support).
RSI (89) has broken out of its support and the ichimoku cloud is showing signs of bearish pressure which contributes to our bearish bias.
Reason for the trading strategy (technically):
BTCUSD broke out of its ascending channel where it is now testing its support at 9100 (61.8% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support). If broken, we expect prices to fall to its next support at 8644 (38.2% Fibonacci retracement, horizontal swing low support).
RSI (89) has broken out of its support and the ichimoku cloud is showing signs of bearish pressure which contributes to our bearish bias.