Today the chart looks more bearish on the shorter timeframes, but overall BTC is holding a uptrend structure on longer timeframes.
My expectation is a brake from the uptrend formation to a sideways market structure. Considering that the trend has run out of steam after a new ATH made on the 10. november, as price action is suggesting, im going to short the market in areas highlighed as the blue box around 65000 price range.
Stop loss i going to be 67500 and target price 60400. In the target price area, you can consider going long in the 58500 price range, if the price stabilizes.
This is trading against the main trend my friends, so stay cautious and use proper risk management.
My expectation is a brake from the uptrend formation to a sideways market structure. Considering that the trend has run out of steam after a new ATH made on the 10. november, as price action is suggesting, im going to short the market in areas highlighed as the blue box around 65000 price range.
Stop loss i going to be 67500 and target price 60400. In the target price area, you can consider going long in the 58500 price range, if the price stabilizes.
This is trading against the main trend my friends, so stay cautious and use proper risk management.
Trade closed: target reached:
Good trade mane!