We can see that bitcoin has been moving in a downtrend. Price has comeback to test the trendline and top of the flag, offering a very good short entry opportunity on the H4 chart. We should be conservative with our target since There is a lot of support near the 8600 area.
Comment:
Price crashing down along with US30. Look to consider protecting profits on the way down by scaling out as this is a highly volatile instrument.
Comment:
Definitely consider scaling out of the position now with a break even stop loss. I except BTC to drop further, but at this point it is a slow and gradual descent that may or may not reach target.