BTCUSD potential short coming up!

19 thg 9, 2021

Hi guys,

This is my first post on TV but I am excited to join the community. I will be sharing some of my thoughts around day/swing trading Crypto and perhaps more instruments at a later stage as my TA and philosophy mature.

I decided to share some TA around the big boy BTC as my first go at making my TA public.

As always guys, this is not financial advice and purely ideas around what trades I am looking at next. Here we go,

We recently got rejected by the weekly level combined with the trend line which flipped as resistance.
We're currently bouncing at a support zone I had lined out with the blue box (and I am long from 47k). We're currently supported by:

• POC of the range
  
• Daily level
  
• Global sellers .5 fib
  
• 1H 200 EMA (not shown)
  
• Previous resistance/support zone
  
• Multiple fib levels
  

My next trade would be a SHORT at the golden pocket (highlighted in red) and confluence for the short would be:

• Untapped .66 from the seller's fib
  
• Daily level
  
• Previous support waiting to be flipped as resistance
  
• the resistance trend line
  
• We have a volume POC in that zone
  
• I expect increasing bearish divergence on the 1H+ time frames
  

ENTRY: 49.3k - 49.5k
INVALIDATION: 49.8k: I prefer a tight stop loss as we might see a short squeeze in case we consolidate under the golden pocket
TAKE PROFIT: take profit 1 will be 45.5. I will monitor market structure and the strength of the rejection to find the next take profits.

Let me know your thoughts and if you are also looking for a short as your next day-trade.

19 thg 9, 2021

Ghi chú

I've removed some of the clutter and showed what I think will happen to price next: