Before continuing reading, please check out my first Bitcoin short idea. This scenario builds on that idea.
Bitcoin has been consolidating high for the past week, yet markets are filled with bearish news. After our first rejection of the 28500 resistance area , Bitcoin looks set to move lower. If you missed the entry on 28500, here is my game plan to find another possible entry somewhere around 28k.
Here is my Game Plan:
– Bitcoin needs to consolidate further
– Touch on the 28k area is needed for this setup to be activated
– Clear rejection of 28k, if we push above 28k we might be moving higher, so I will be looking for an entry in the 27.9k area
– Entry at a clear break of the trendline
– Price movement needs to be erratic to the downside
Please make sure to follow me on Tradingview for future setups. Also, please make sure to join my telegram as my trades will be updated live.
Have a fantastic day legends.