Bitcoin (BTC) Unlikley to rally beyond 4k. Shorting this.

Bitcoin has had a 3% bounce. I have closed my longs and entered short right here. If you want to check out the long idea, please check out the related ideas section.

On the chart, we can see Bitcoin approaching major resistance. Unless a big pump happens, it looks like Bitcoin will be unable to move past 4000.

Target is 3500 or a lower low. Depends on the situation. I will update as we get there.

Thanks for viewing! Check out my previous long idea in the related idea section.

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There could be a head and shoulders pattern.

This will have to hold 3400.

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Place stop loss using these two fractals.

If you want to use the first fractal that has no chance of being hunted, you need to enter with a way smaller position size in order to keep risk the same.

The second fractal is safe, but has a low risk of being hunted, I doubt it will happen.

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