Bitcoin price is currently fluctuating around $77,200, indicating strong selling pressure on the 4h timeframe. The correlation between the EMA and RSI is giving a bearish signal.
$BTC – SHORT
Trading plan:
Entry: $77,107.69 – $77,252.31
SL: $77,903.05
TP1: $75,878.50
TP2: $75,251.85
TP3: $74,528.80
Why this setup?
• The 4h trend is SHORT; EMA20=$78,089.94, EMA50=$78,358.95.
• RSI 15m=50.9; RSI 4h=31.6.
• ATR 1h=$482.04; the entry is around the current price, TP1 has an R:R of 1.8.
Discussion:
If the downtrend continues, the SL level could be hit quickly; but if there is a short-term bounce, is the profit target outlined enough to justify holding the position?
Click here to trade 👇
$BTC – SHORT
Trading plan:
Entry: $77,107.69 – $77,252.31
SL: $77,903.05
TP1: $75,878.50
TP2: $75,251.85
TP3: $74,528.80
Why this setup?
• The 4h trend is SHORT; EMA20=$78,089.94, EMA50=$78,358.95.
• RSI 15m=50.9; RSI 4h=31.6.
• ATR 1h=$482.04; the entry is around the current price, TP1 has an R:R of 1.8.
Discussion:
If the downtrend continues, the SL level could be hit quickly; but if there is a short-term bounce, is the profit target outlined enough to justify holding the position?
Click here to trade 👇
