Short BTC following Bearish divergence on weekly TF
Following up after confirmation on bearish divergence on weekly timeframe. I'm willing to short if we can close a 4H candle below 11100. I'll either set a conditional order or just market it. The trade would look something like the picture above. I'll monitor my stop and change it as we go as the stop is quite high for my liking.
Anyway, daily 200EMA is around 8.000 which would be a fine area to test out and a deep retrace would strengthen us going forward, nothing bad about that. Ultimately, if we do get confirmation that we're going down, right now I see low to mid 8000's as a good area.
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My preferred margin exchange Bybit: tiny.cc/TryBybit
BitMEX: bitmex.com/register/ZPfJtn
Binance: binance.com/en/markets?ref=17008032
Anyway, daily 200EMA is around 8.000 which would be a fine area to test out and a deep retrace would strengthen us going forward, nothing bad about that. Ultimately, if we do get confirmation that we're going down, right now I see low to mid 8000's as a good area.
If you like what you see and wish to support my content, feel free to sign up using my referral link below.
My preferred margin exchange Bybit: tiny.cc/TryBybit
BitMEX: bitmex.com/register/ZPfJtn
Binance: binance.com/en/markets?ref=17008032
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