Bitcoin – short setup!

27.07.2022 2:17 pm

Hello, everyone!

Yesterday the price closed below the uptrend key fractal level, thus the uptrend is over. Now we have to keep the eyes on the downtrend key fractal level, which protects the downtrend.

Let’s take a look at the 4h timeframe of BTCUSDT chart of the WhiteBit exchange. Here we can see the clear short setup. The price is testing the previous level of support. Even if the price will break through the ex uptrend key fractal level, the supply zone and the downtrend key fractal level are the unbreakable levels for now. We can set the stop-loss just above it to take the bearish move to $16-17k which I predicted earlier.

Good luck!

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