BTC - Range between 25K & 31k ? Part 2

3 lil shorts opened
- TP at 0.786 fib
- TP at 200 daily MA
- TP at 0.618 fib

I'm still bullish for Long term, but we need some weeks/months of rest
Check July/august 2015 and 2019 for an idea on what can happen

Check the first part of this analysis I posted 1 month ago

Comment:

BTC when back in the rectangle and above 200MA 4H, increasing the chance to invalidate this idea

Comment:

Ok this looks like I was waiting for, what I need now is a daily close below 29700.
I don't think we can go above 32k for the next weeks/months

(N.B.: Note that I placed the stop losses pretty randomly in this idea, some of my shorts SL are at 32XXX)

Comment:

Alright, we are now at 0.618 fib from the last wave up and at daily 50 MA. I expect more moves downward
but will probably close my shorts if we go back in the grey rectangle

27k5 is still our first and next target
In parallel, target for XRP is 0.57 ;)

Comment:

Nice rebound from around daily 200MA,
I think it will retest the low at 28k5 before anything else, I closed some short positions tho
im still bearish for the 3-4 next months and waiting for 25k (or at least 27k5)

Comment:

*little correction from my last comment
Nice rebound from around daily 100MA, not 200...*

So, this move up was maybe a fake breakdown,
if you copy past what happened on the 13th July, you arrive to 27k3, the first TP

Trade closed manually:

Broke the trend line in the blue area,
I prefer to close trade at entry point

Comment:

Too bad I closed all my shorts, we arrive now at TP1 of this idea
Not sure about what's next but I now think low might be around here

Comment:

Incredible, TP2 hit, and TP3 on some exchanges