BTC Short Opportunity
Noticing a short term opportunity as price/RSI divergence pops up. Might be late on the opportunity, but there is an opportunity to risk 1.8% for 4.8% gains.
Low Volume, plus a local double top, a hanging man candle, RSI divergence, equals selling pressure.
Stop loss just above the first wick above the 56kk range, and TP on 53,500. Limit Order definitely needed here as we wont be there for long. I will be front running my order.
Better entry could have been once we saw that price divergence on the RSI, with a stop loss above the 60k range, but 4.8% is still a good scalping opportunity.
If you have critiques, or I am missing something, please help me on my learning journey by leaving a comment!
**Not Financial Info, information is for journaling my thoughts, and coming back to them later to improve my skills.**
Low Volume, plus a local double top, a hanging man candle, RSI divergence, equals selling pressure.
Stop loss just above the first wick above the 56kk range, and TP on 53,500. Limit Order definitely needed here as we wont be there for long. I will be front running my order.
Better entry could have been once we saw that price divergence on the RSI, with a stop loss above the 60k range, but 4.8% is still a good scalping opportunity.
If you have critiques, or I am missing something, please help me on my learning journey by leaving a comment!
**Not Financial Info, information is for journaling my thoughts, and coming back to them later to improve my skills.**
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