THIS IS 4TH OF CONSOLIDATION , THE BULLS AND BEARS PLAYING TUG O WAR, MY CHART/NEW STRATEGY, INDICATORS, SIGNALS AND BASIC TECHNICAL ANALYSIS , tells me this is huge double top, the ATR is at its lowest low and 4 days of consolidation meaning a huge breakout is coming, my indicator by (CM) tops/bottoms signing a top yesterday, I was givin the green light to go short and take a position 2 days ago using the 12H and DAILY chart , I’m using ELDERS (4) indicators in tandem that is in confluence, my trigger 13-EMA has fired, the ELDER -IMPULSE gave me signal to go short with not only a MACD cross bearish but a MACD divergence bearish signal was fired aswell 2 days ago, the bull/bear ELDER-RAY the bulls and bears are still fighting and playing tug o war for 4 days now, and the RSI is under 50 line and moving down more bearish, and above all if u do not believe in indicators because they lag in price action then look at the technicals in the DOUBLE TOP bearish pattern right in your face, it’s picture perfect , we see the huge M forming as we just needed the right leg to form and it’s doing it now as we just crossed the 20-EMA bearish, we just got a lower high and now looking for a lower low to tell me we have a confirmation of a reversal , then once we break the neckline and a cluster of moving averages the 30-50-100-EMA averages then there will be no resistance until we are testing 50K low where my take profit sits horizontal to the bottom of the current bullish trend and bottom of left leg of the M double top, we are looking at a 7K correction as of if u took a short now, I have already taken my position short with stop loss 1 ATR just above the highest resistance the bitcoin high, that’s a stop loss at like 2% but a take profit target of approx 14% for a 7-1 R/R now using a 10x that will be a 1.5X profit target and a very profitable trade with a incredible R/R risk reward , and I believe the odds probability are high in our favor to have a winning trade and this trade working out. Let me know what u guys think? #SHA256BITTRADER
