$BTC
Short Setup (Sell the Bounce)
BTC dropped about 6.5% today and is bouncing off the 67,568 low. RSI is deeply oversold at 26, so I'm not shorting the lows. I'm waiting for a relief bounce into the breakdown zone to short the weakness in line with the trend.
Entry: 69,400 – 69,900 (on rejection)
Stop-loss: 70,550
TP1: 68,700
TP2: 68,000
TP3: 67,300
Reason: Price is below the 1H MA9 (about 69,380), 70,000 is the round level that just broke, and both the 7-day and 30-day trends are down.
Note: Crypto remains under pressure from hot US inflation data and the risk of a Fed rate hike in December.
⚠️ After a sharp drop, bounces can be fast and large, so I keep size small and use a strict stop.
A 1H close above 70,550 invalidates this idea and I will step aside.
Personal view, not financial advice. DYOR.
Follow for more clean, simple trade setups.
#BTC #TradingSignals #TradingStrategies💼💰 #Binance #BinanceSquare
Short Setup (Sell the Bounce)
BTC dropped about 6.5% today and is bouncing off the 67,568 low. RSI is deeply oversold at 26, so I'm not shorting the lows. I'm waiting for a relief bounce into the breakdown zone to short the weakness in line with the trend.
Entry: 69,400 – 69,900 (on rejection)
Stop-loss: 70,550
TP1: 68,700
TP2: 68,000
TP3: 67,300
Reason: Price is below the 1H MA9 (about 69,380), 70,000 is the round level that just broke, and both the 7-day and 30-day trends are down.
Note: Crypto remains under pressure from hot US inflation data and the risk of a Fed rate hike in December.
⚠️ After a sharp drop, bounces can be fast and large, so I keep size small and use a strict stop.
A 1H close above 70,550 invalidates this idea and I will step aside.
Personal view, not financial advice. DYOR.
Follow for more clean, simple trade setups.
#BTC #TradingSignals #TradingStrategies💼💰 #Binance #BinanceSquare
