Bitcoin Short-Term Move | How To Trade

This is a short-term chart for BTCUSD, here is how to trade it.

We have a rejection at EMA100 after a bearish "shooting star" candlesticks.
We have a bearish cross on the MACD and a downtrending RSI.

Short-term bullish bias is on.

Prices are currently trading below EMA50.
Below this level, we can see additional drop (red arrow).

As long as BTCUSD 1H stays below EMA50, we can expect the drop.

If prices move up and close above EMA100 ($38,700), this moves pontential is lost (this can be the stop-loss).

The target is the last low around $36,500.

This is not financial advice.

Thanks for the support.


Namaste.

Trade closed: target reached

Comment:

$20,000 Is still in play on the higher timeframes.

I will share a new trade idea about it on the weekly.

Thanks for the support.