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Initiate Short.
Entry - 8400.00
TP1 - 7819.60
TP2 - 7117.80
SL - 8622.27
Reason: There are a bunch of Bullish Signs. Among them: Possible accumulation period with breakout, which potentially confirms the accumulation. Ichimoku resistance zone's breakout with fixing above. Bullish Flag.
However We have an unconfirmed Bullish crossover between 20 and 121 MAs (RSI should get in the main overbought zone to confirm it).
If bullish flag works out price simply might shoot up on 10.500$ level. I would recomment to initiate long on Flag's breakout (confirmed!) because it can bring very strong upward momentum. But until that you should keep in ming that price still can return to Bearish scenario, because of crossover is not confirmed.
Plus do not forget the Halving event, it might be not a good time for the Price to take an Uptrend.
With this trade we bet againts the consensus.
Notice that we have an Entry point below Bullish Flag's crossover, so that we will be not taken a position if growth happens.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
Initiate Short.
Entry - 8400.00
TP1 - 7819.60
TP2 - 7117.80
SL - 8622.27
Reason: There are a bunch of Bullish Signs. Among them: Possible accumulation period with breakout, which potentially confirms the accumulation. Ichimoku resistance zone's breakout with fixing above. Bullish Flag.
However We have an unconfirmed Bullish crossover between 20 and 121 MAs (RSI should get in the main overbought zone to confirm it).
If bullish flag works out price simply might shoot up on 10.500$ level. I would recomment to initiate long on Flag's breakout (confirmed!) because it can bring very strong upward momentum. But until that you should keep in ming that price still can return to Bearish scenario, because of crossover is not confirmed.
Plus do not forget the Halving event, it might be not a good time for the Price to take an Uptrend.
With this trade we bet againts the consensus.
Notice that we have an Entry point below Bullish Flag's crossover, so that we will be not taken a position if growth happens.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.