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Short BTC :(
Trade Setup: Short BTCUSDT (Bitcoin)
Entry point: 104,200 – 104,400 USDT
Stop Loss: 106,000 USDT
Take profit: 100,500 USDT
Risk-reward ratio: ~1.9:1
Justifications:
RSI ( at 39.37 indicates weak momentum; the price is trending below VWAP.
ADX is still low )26.6(, indicating a weak trend but the bearish momentum is increasing.
The momentum )Mom( and AO are strongly negative on both the daily and hourly.
The price is now below the EMA20 and EMA50, and is converging with the EMA100, indicating increased downward pressure.
Large volume sales have been visible recently.
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