$BTC Short 4hr TF Fibonacci, Supports & Resistances

23 thg 2, 2021

Quick Bitcoin short after a failed backtest of ~$54,000 support turned resistance. MACD divergence and declining W%R from overbought were confirming indicators to take the trade. A break of support of the ascending channel led me to believe that continuation of to the next support level was impending. That level was the ~$46,000 3.618 fibonacci extension from ~$10,000. A bounce off of that support led me to take profit and ladder my exit at ~46,500.

>16% ROI without leverage.

Check out my other published ideas and trades I took.