In this post we are going over Bitcoins bearish movement using multiple timeframe analysis (MTFA)
On the left you see the 5min chart of BTCUSD, where we have formed a double top + a lower high following the doutble top, in the PrimedTraders community & courses this is a must know pattern as it has yielded us many profitable pips. For now we believe that we are making a push towards the daily VWAP once we come to it we will determine if its time to get out of the shorts taken @ 19599.50 or build on them further.
We are taking day trades while we run our position trades on bitcoin (see related post)
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