BTC Short Strategy (Technical Analysis) A converging triangle forms in a downtrend, with volume not expanding, indicating a high probability of a continuation consolidation. ā The upper boundary is hard to break, with a high risk of false breakouts. š Trading Thoughts (Bearish): 1⣠A surge to around 106800 meets resistance ā Signal appears to short 2⣠Breaks below the lower boundary at 104500 ā Follow the trend to short Remember to set a stop loss, once a false breakout is confirmed, the pullback will be swift. #BTC
šStrategy Summary: Pressure near 106,800: Short Break above 106,800 extending to 110,000: Wait for upward failure to short If effectively breaks 110,000: Switch to bullish
Trading Reminder: Pay attention to short opportunities near 106800! This position has two major resistances: 1. The 0.382 Fibonacci retracement āā A technical level that many are watching 2. The value moving average in the P-structure āā The place where the long and short battle is most intense If the price can't go up from here, it could very likely be a signal for reversal!