We’re trying to grab an extreme point on BTC, adding a short position from a possible local top.
Price has shifted into a steady downtrend on the 5-minute timeframe. And given the abundance of markers for a potential top across various timeframes, we’re using this opportunity. We’ll be ready to close this added portion if the downtrend is broken. In such a counter-trend—one like this—you have to act flexibly.
The add-on was made with a larger volume than yesterday’s attempt (that was covered earlier today, before the pump). For this, we slightly increased liquidity. We added $80,584.90. The entry point moved to $75,200.1, and the break-even is now at $74,319.49$. At the same time, if a correction from the current top really starts and is confirmed by a steady downtrend on the 3-hour timeframe, then we can make one more add-on. The liquidation level right now is $85,466.
In 15 minutes, the third Strong signal for a potential top on the 2-hour timeframe will close; for now it looks quite convincing. I wouldn’t want the execution to follow the scenario with a breakout that happened on September 3rd. But the main thing for the sellers is that, finally, it should go.
Price has shifted into a steady downtrend on the 5-minute timeframe. And given the abundance of markers for a potential top across various timeframes, we’re using this opportunity. We’ll be ready to close this added portion if the downtrend is broken. In such a counter-trend—one like this—you have to act flexibly.
The add-on was made with a larger volume than yesterday’s attempt (that was covered earlier today, before the pump). For this, we slightly increased liquidity. We added $80,584.90. The entry point moved to $75,200.1, and the break-even is now at $74,319.49$. At the same time, if a correction from the current top really starts and is confirmed by a steady downtrend on the 3-hour timeframe, then we can make one more add-on. The liquidation level right now is $85,466.
In 15 minutes, the third Strong signal for a potential top on the 2-hour timeframe will close; for now it looks quite convincing. I wouldn’t want the execution to follow the scenario with a breakout that happened on September 3rd. But the main thing for the sellers is that, finally, it should go.
