An Idea to Short BTC: Don't Wake the Dragon from Sleep
Hello Bears!
Although the BTC price is falling, I expect it may hold on to the bottom of the red channel.
By the way, I see a giant green bullish dragon (or simply a falling wedge) sleeping (it hasn't been invalidated).
When he wakes up, he will spit a beam of flame that will reach as high as 25k.
The overall direction is still unclear, but the chart will probably test the upper exit of the red channel or the pennant, the bullish dragon setup's trigger.
The strategy for us bears when BTC goes up is to short at the upper exit of the red channel of the pennant or the gray and red boxes. Especially 20800-21200.
Sorry for the many trendlines; they may be hard to see. They are automatically drawn by scripts I made, and I didn't think any of them were irrelevant.
The thicker ones represent stronger S&R. Intersections are even more robust.
Komentar:
H1.
This channel might define the local ceiling.