BTCUSDT Short | Retest of HNS Neckline + 4H and 1D 55 EMA
Entered a short position on BTC at the 27550.
Looking to ride the short till 25800 and 24800.
Reasons and confluences:
- Head n Shoulders Neckline Retest
- 4H 55 EMA at 27400
- 1D 55 EMA at 27590
- 4H RSI creating hidden bearish divergence; The RSI has been reset and can continue the downtrend.
Invalidation is a hold above 27800. If this happens, we set our sights towards the 28900 mark which is an OB as well as LOADS of liquidations.
Looking to ride the short till 25800 and 24800.
Reasons and confluences:
- Head n Shoulders Neckline Retest
- 4H 55 EMA at 27400
- 1D 55 EMA at 27590
- 4H RSI creating hidden bearish divergence; The RSI has been reset and can continue the downtrend.
Invalidation is a hold above 27800. If this happens, we set our sights towards the 28900 mark which is an OB as well as LOADS of liquidations.
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