Sell below 9734. Stop loss at 10119. Take profit at 9117.
Reason for the trading strategy (technically):
BTCUSD tested its resistance at 9734 (61.8% Fibonacci extension, 100% Fibonacci extension, long term 61.8% Fibonacci retracement, horizontal swing high resistance) where we expect to see price push down further to its support at 9117 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (34, 5, 3) reversed nicely off its resistance at 93% where a corresponding drop is expected.
Reason for the trading strategy (technically):
BTCUSD tested its resistance at 9734 (61.8% Fibonacci extension, 100% Fibonacci extension, long term 61.8% Fibonacci retracement, horizontal swing high resistance) where we expect to see price push down further to its support at 9117 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (34, 5, 3) reversed nicely off its resistance at 93% where a corresponding drop is expected.