This is my new short position on BTCUSDT, price of BTC has been going up very fast for the past few days, and now it seems to have reached exhaustion, in sharp uptrends this usually means a ranging market is coming for the next few daily candles or a retracement to touch some important moving averages and to gain more volume to continue going up.
This could be a formation of a new macro pattern in which we could be at the top of its newly formed resistance at around 56.2k
Keep in mind that it is very risky to short in a uptrend and only do this on no more than 2x leverage if you even use leverage.
This could be a formation of a new macro pattern in which we could be at the top of its newly formed resistance at around 56.2k
Keep in mind that it is very risky to short in a uptrend and only do this on no more than 2x leverage if you even use leverage.