Bitcoin fell back and made a double bottom around 3500ish. This double bottom provides a perfect target price for a short. I will be looking to open shorts in the red box indicated on the chart. The pattern I will be playing is a Head and shoulders indicated by the red arrows pointing down. Price will also re-test the longer term downtrendline since the top (yellow). It will also hit bigger volume profile 3875+. Short will be covered if the yellow downtrend line manages to break upwards with force and volume . Target based on the pattern and the chart structure is 3000. This short sets up for a perfect risk reward.
Trade closed manually:
Trade closed and reversed into a long on the downtrendline break.