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Bitcoin technical analysis and shorting BTCUSD close to $24500 since bulls might be giving up soon.

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.

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https://www.forexlive.com/technical-analysis

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