Expect Sideways to bearish move on three hour timeframe
Wedge formed in 3 hour time frame.
Lower high formed indicating change in momentum
Reco:
Take short position only if 3 hour candle breaks trendline and moves lower breaking key support levels around 22500.
Break of trendline can move BTC towards T1 at 21900 and T2 at 21000.
To be confirmed. This is not a trading reco and trade is not active at this point in time.
If view fails and trendline breaks on upside will revisit the trade.
Thank you.
Lower high formed indicating change in momentum
Reco:
Take short position only if 3 hour candle breaks trendline and moves lower breaking key support levels around 22500.
Break of trendline can move BTC towards T1 at 21900 and T2 at 21000.
To be confirmed. This is not a trading reco and trade is not active at this point in time.
If view fails and trendline breaks on upside will revisit the trade.
Thank you.
Trade active:
The trendline broke and the position is consolidating around T1 just 18 $ above T1 at 21918. The volume on the green reversal is not strong at this point in time. Can consolidate. I have taken partial position at T1 and hold rest for T2.