Bigger stop loss this time.
I still believe we will keep falling in the short run, or at least it will be very choppy. We have breached and are currently consolidating below my zone, so I feel we are about to have a dump, especially as America is waking up. Plus, we have an inverse Head and Shoulders forming as well, so more downside potential in my opinion....
My previous BTC long hit TP1, and as I said I moved SL into Break Even once that happened, so made small profits on that.
Now, I'm shorting. We have printed an inverse Cup & Handle pattern, and the technical target for that is my TP2. TP1 (the purple line) is at a support zone. Evidently, fundamental factors going on in China are seeming to impact the overall...
I have placed this long on Binance Futures -
On the 4hr/Daily timeline, one can draw a downwards channel that Bitcoin has been ranging in for the last 4 weeks. Past week it's been in the upper half, and the 2nd to last 4hour candle had a big bounce off the bottom region to close on the median line. To me, that implied strong bullish momentum, albeit it still...
