BTC Update 7th Sept
BTC Update curtiousy of Edward Morra
Bitcoin as well as all mex alts are shortable on any bounce. Almost all of them bear flagging (making their bearish retests of broken levels). Sorry, didn't post any set ups yesterday, was analysing my trades.
Here are 2 zones for shorts:
- Diagonal box 1 (no exact entries, you can use my live chart to track price live, or draw it yourself, but roughly numbers are red lines (from 6510 - 6585)
- Red horizontal box 2 (perfect short entry based on bearish cluster that led to explosive leg down). Thats around ~6600ish area. SL can be placed above 6700
I would recommend starting to ladder in diagonal area while also aiming for that horizontal resistance, be careful with tight stops, so better to ladder this zone (at least I am doing that).
Also, if you were looking to sell your spot btc, you can do it in 6500-6600 range, and only consider it buying back once we confidently go back above 6800 (but until then - new yearly lows are possible).
