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XBT/USD : Best spots to take SHORT ! for BITMEX:XBTUSD by Helical_Trades

BITMEX:XBTUSD
Hello everyone 😃

BTC just achieved a monthly close above 40K.

Now it seems that the pivotal timeline works out and it’s going lower on the track.

There are two scenarios for bears !
– Dive below 30K after a retest on 42.5K .

– Dive below 30K after a retest on 44.6K .

So on both scenarios I’m bearish but can’t mention the exact level for another leg down; So it’s recommended to have you confirmation on both sides.
BTC activated the liquidity pool here above $41300 and it’s just marking the lower LP to have advantage as a retest line for next major movement !

🔴 Have to mention that any engulf above $46K will invalidate our bearish scenario and we’ll search for a spot to take LONG with a target around ATH .

How ever there will be one last major resistance sitting at 49K; But I won’t risk my portfolio for it, Above 46K will highly suggest bulls to take advantage again.

You can have the SHORT options noted on chart below :

There are two SHORT setups as I mentioned !

🔰 Our main target is 27K on classic chart; So there can be a wick below 26K to hunt more longs and fill more bids !

On last chart, We have :

There are multiple bearish divergences located on volatility ; So that’s why I mentioned a higher entry SHORTs.
Cause there is a chance for bulls to push back the price and mark this downtrend as a correction for divergences.
Also RSI is just reached below 45; So it can be a good spot to retest over sell zone limit and have another rush to higher levels for more activity above liquidity pool caused by last month’s high !

🔴 SHORTs need a confirmation to run; Any engulf above $46K will invalidate our bearish scenario and BTC will bounce to retest ATH or higher with 90% chance of success.

📌 I’ll share another chart and setups if any engulf above $46K happens !

Hope you enjoyed our analysis about BTC’s possible directions🙌

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Also you can share your opinion with us in comments 😉🙋🏼‍♂️

Attention: this isn’t financial advice we are just trying to help people on their own vision.

Have a good day!
@Helical_Trades

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