Long-term Outlook: BTC is continuing to move towards the major resistance trend line. The lack of volume and short-term bearish signs are concerning. We may retest the bottom of the structure before we reach the major resistance trend line.
Short-term Outlook: Daily RSI and MACD are both turning negative and signify a bearish trend. If this trend persists, we could be dropping back through the EMAs soon.
My position: Out of the leveraged longs and into managed shorts until we get a move away from the bearishness.
I am not a financial analyst. Only trade what you are willing to risk and manage your risk well.
Fortune favors the brave. - fortis Fortuna adiuvat
Short-term Outlook: Daily RSI and MACD are both turning negative and signify a bearish trend. If this trend persists, we could be dropping back through the EMAs soon.
My position: Out of the leveraged longs and into managed shorts until we get a move away from the bearishness.
I am not a financial analyst. Only trade what you are willing to risk and manage your risk well.
Fortune favors the brave. - fortis Fortuna adiuvat
Trade closed: stop reached:
Updating and closing out old ideas. It was invalidated.
