Reasons of Short BTC: 1. Bitcoin is forming a possible shoulder-head –shoulder 2. Price cannot break Point of Control aka resistance area at 39501 3. Volume of Price at Resistance area is higher comparable to previous candles = signs of distribution
Set up: Entry: Short at price below 39500 Stop loss: When Price moves higher than Point of Control line with large volume Take Profit: 35000
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Down Trend confirm When looking at H1 time Price just close below Point of Control with high volume = Sign of strength for price to go below further
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Set up goes as plan Take profit price still at: 35000