• Previous update: See the Bitcoin price action at the bottom of this page, after our trade is already apx 2% in the money, from the entry.
  • Bitcoin has risen lately but seems to have past the oversold zone at the 4 hour candle timeframe
  • The 2.5 to 1 reward vs risk here, along with the fact that Bitcoin may be exhausted at the top of the range, makes a short position consideration legit
  • Entry Price for the Bitcoin short position: $21299
  • Stop Loss: $22004 (risk 3.31%)
  • Take Profit: $19533 (target a gain of 8.29%)
  • Reward vs Risk for this Bitcoin short position: 2.5 to 1
Bitcoin Trade Idea Chart
Bitcoin Trade Idea Chart

Bitcoin Technical Analysis and Trade Idea Video: