Bitcoin shows some signs of weakness with a price on a resistance level with confluences.
Indeed SMA(200) and a pinbar for bearish momentum created for us a SHORT trade opportunity.
Weekend is coming, stay tuned for tonight close and monday opening.
Price may retrace previous pinbar and retest SMA(200) that's why I decided to set the stop loss right over the previous pinbar top.
Take profit over short term upward trendline makes sense to me.
Cheers,
MT
Indeed SMA(200) and a pinbar for bearish momentum created for us a SHORT trade opportunity.
Weekend is coming, stay tuned for tonight close and monday opening.
Price may retrace previous pinbar and retest SMA(200) that's why I decided to set the stop loss right over the previous pinbar top.
Take profit over short term upward trendline makes sense to me.
Cheers,
MT