Short Bitcoin $10,100 - Short term target $7500 - Stop $11000
We are shorting Bitcoin here after some very bearish indications have shown up on the 4 hour chart.
We can see below a Head and shoulder pattern coming up into the descending trend line of the wedge on the daily chart. The false breakout of the wedge and the H&S reversal pattern give us a strong enough sign that BTC still wants to come down. Hopefully into the BUY ZONE that we recently posted around $6500-$6600.
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I tink in the correct position!
BTC has broken the trendline after making a superb run from $6k. Price is in a correction phase and $9300-$9500 is the first support. If broken, we might see further slide to $7800-$8000 level
It seems that way right now yeh, its looking nice. I think its pretty sure about itself, im seeing $7500 again and likely lower down into $6500 even.