Hey everyone,
Today I present a short trade opportunity on Bitcoin.
I hoping to see this descending triangle further develop. If it does it can create an interesting short trade. I can't guarantee that it will form exactly like this, but I think you will get the idea.
The best position to enter (based on this chart) would be around 35.5k, you can then place your SL right above the descending neckline, so if this trade doesn't work out, the loss is OK.
The potential target to the downside is around 24k. After that, I think the trend will reverse back to the upside.
Today I present a short trade opportunity on Bitcoin.
I hoping to see this descending triangle further develop. If it does it can create an interesting short trade. I can't guarantee that it will form exactly like this, but I think you will get the idea.
The best position to enter (based on this chart) would be around 35.5k, you can then place your SL right above the descending neckline, so if this trade doesn't work out, the loss is OK.
The potential target to the downside is around 24k. After that, I think the trend will reverse back to the upside.