Shorted BTC at 30,306. Now what?
BTCUSD this week failed to break the range and is due for a pullback. You may see that reason behind why I shorted it, aside from a psychological resistance at 30,300 price.
It seems that the upper channel has been revisited multiples time and is due to revisit the lower channel. With confluence of its yearly pivot at 26k and as noticed in the chart, there seems to be a good change that 25k to 26k is a sweet spot.
Additionally, I have closed my shorts too soon as the trade idea of short is valid still. But we are yet to see if it will continue is visit or another move is in store for BTC this week.
It seems that the upper channel has been revisited multiples time and is due to revisit the lower channel. With confluence of its yearly pivot at 26k and as noticed in the chart, there seems to be a good change that 25k to 26k is a sweet spot.
Additionally, I have closed my shorts too soon as the trade idea of short is valid still. But we are yet to see if it will continue is visit or another move is in store for BTC this week.
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