🚨 $BTC REJECTED $81K — SELLERS TAKE BACK CONTROL AGAIN
While the break above $81K initially seemed promising, the rejection was quite harsh. BTC has dropped below the $80.5K mark and is having trouble reclaiming even the $80K region. It looks like just the kind of a rejection pattern I’m waiting to catch a continuation of a short trade….‼️
🔻 Short Play
Entry: $79,777.6
Stop Loss: $80,650
Target 1: $79,200
Target 2: $78,700
Target 3: $78,200
The key thing about this is the $80K resistance level, which BTC is failing to break above and which, once breached down along with the support levels of $79.6K and $79.7K, can push the price to the downside towards the mentioned targets. In addition, the sell wave following the rejection at $81K reinforces the bearish set-up….‼️
⚠️ Once the price manages to reclaim $80.5K, I’ll be out of the position.
#OktaCrowdStrikeSurgeOnEarningsBeat
While the break above $81K initially seemed promising, the rejection was quite harsh. BTC has dropped below the $80.5K mark and is having trouble reclaiming even the $80K region. It looks like just the kind of a rejection pattern I’m waiting to catch a continuation of a short trade….‼️
🔻 Short Play
Entry: $79,777.6
Stop Loss: $80,650
Target 1: $79,200
Target 2: $78,700
Target 3: $78,200
The key thing about this is the $80K resistance level, which BTC is failing to break above and which, once breached down along with the support levels of $79.6K and $79.7K, can push the price to the downside towards the mentioned targets. In addition, the sell wave following the rejection at $81K reinforces the bearish set-up….‼️
⚠️ Once the price manages to reclaim $80.5K, I’ll be out of the position.
#OktaCrowdStrikeSurgeOnEarningsBeat
