THE BIG SHORT: BTC Shorts adjusting TP for a move down to 4k

20 Nov 2020

BTC SHORT TARGET ADJUSTMENT for 6:1 r/r opp

• 61.8% to 78.6 fibo level zone extended from 1st wave of correction from all time highs provides clear positive risk: reward play for a downside correction
  
  
• Short limit entries above spot prices (previous posts - preferably near theextended 78.6 fibo level short BTC at around $18,035)
  
  
• Stops above all time highs and just below the next big figure at $20099
  
  
• Final take profit targets adjusted from just above the key $12,500 pivot and $10,900 for half a position each (previous post) to around the 4K level for a r:r opportunity greater of nearly 6:1 unleveraged
  
  For more info on my trading approach - fxtradermagazine.com/forex-strategy/fusing-fundamental-and-technical-approaches.php