| Today's daily candle, while closing only in apx 4 hours, is now showing a sign that bulls are NOT about to break the presented channel to the upside, following this 4th attempt to do so, on the daily timeframe. Even if we had a coin flip for this trade, the reward vs risk merits to short BTCUSD here. Why? Because the stop loss is half the take profit target for the first part of this trade plan, and only 25% of the profit target of the 2nd part, as shown via the short trade drawing tool within the video. Furthermore, some traders can leave 25% of the position riding the possible down movement, since this channel, is also a potential bear flag. Trade crypto at your own risk. See technical analysis at ForexLive: https://www.forexlive.com/technical-analysis See daily crypto news at: https://www.forexlive.com/Cryptocurrency Always trade crypto or any other asset at your own risk only. |
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