Bitcoin / TetherUS
Short

Bitcoin - why I opened short?

749
Hello, everyone!

Let's take a look at the chart. On 1h time frame we have this big dump from 31K to $27k. There were no any corrections and Awesome oscillator tells us that it was the wave 3. During this weekend we have the bounce which looks like the wave 4. Anyway BTC price has formed even 2 bearish reversal bars above the Alligator with the nice angulation. I used the second one to enter my short trade. The idea here is to catch the wave 5. here we have the nice risk to reward because target area for wave 5 is inside the green box.

Best regards, Ivan
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