BTC's short-selling opportunity and long-term re-entry opportunity
After falling below the 59k we were thinking about, the price stood back and went through a wave of rising market. It is currently moving towards the upper edge of the channel. At present, the 4H-level MACD has begun to show signs of turning downward. If it reaches the top of the channel and is blocked and forms a divergence, it will be a short-selling opportunity. There is also a deep gartley overlapped here, which is about 69.2k-70.6k, and it also overlaps the upper edge of the channel. Pulling the Fibonacci, the TP1 of the bearish deep gartley is just around the iconic low of 64.6k, 0.5 overlaps the POC, and 0.618 is near the VAL, which seems reasonable.
So for long positions, the target is coming soon. Take appropriate profit above 69.2k. If there is a pullback, pay attention to 64.6k or 63k or 61.5k to continue to increase positions. Violent longs can place long orders on the left side of 63k and 61.5k. Aggressive longs pay attention to the price behavior of these two positions and cut in on the right. Conservative longs wait for the price to fall to the lower edge of the channel again before considering cutting in on the right.
For violent shorts, combined with multiple factors, you can place a ladder short order on the left side between 69.2k-70.6k. Aggressive shorts cut in on the right side of this range. Conservative shorts should not participate. The first stop profit is 64.6k, the second stop profit is 61.5k, and the third stop profit depends on the bottom of the channel.
I don’t like to watch the market, and prefer the left-side trading strategy. The trading strategy is time-sensitive. All remarks do not constitute any investment advice. I wish you all good luck~
