Update on BTC chart + Re-entering a Short

𝕄𝕒𝕣𝕜𝕖𝕥 𝕊𝕥𝕣𝕦𝕔𝕥𝕦𝕣𝕖 𝔹𝕪 𝕁𝕠𝕠𝕡
—————
Update on BTC chart + Re-entering a Short

• BTC has dropped, True, but is the dump over or Not isn’t still clear
• A Trendline should be clear:
It should be connecting the shadows or bodies of the candles (we should have just One rule) or we end up drawing lines in our favor
• BTC has been in a clear rising wedge, but there is just One resistance & that’s the white line (support - bottom of the rising wedge)
• Yellow line is a psychological support & if it works it would be in our favor to give us a better entry for a short position

• Make a checklist with Rules & if the conditions are NOT met, let the chart run
—————
BTC Short (current situation):
• I’ll enter a short position if the price reaches the white line (marked as Target) & if I get a confirmation of a reversal, I’ll enter a short & even in this case, I won’t go all in
• My main target will remain the White Box (A saying: when the shit goes down, it has to go down completely)
• We didn’t close the CME gap above us + we have two new gaps to the upside & we have a lot of liquidity above us
• When we get a double bottom on the weekly chart, the chart will not reverse by a single Top (explained in the previous post)

• If the price keeps dipping from here, I won’t enter into any positions. I’ll wait for a new resistance area & for the RSI to go back into the buyers area
• First rule of investment → Save Ur initial
• I trade with no SL, so I won’t take any risks entering on these levels