Bitcoin- Where to sell?

In yesterday's comment, I said that bulls don't have power and I expect a deep correction. This seems to have started with last night's strong fall.
Now bitcoin is in a normal rebound which can give speculators a good opportunity for short selling.
As from the chart, we can see that btcusd broke the ascending trendline of the rising wedge and the horizontal support from 60k, and this confluence of now resistances can offer a good short entry.
In short, my idea is to sell between 59-60k, stop loss above 62500 and as for target 50k is reasonable, also such a trade can have a more than 1:2 R:R depending on your entry.

Best regards
Mihai Iacob

Comentário:

This "invite" of buying in 55k support doesn t "sell" good to me and i think that we already had the rebound and now will dive to 50k without confirming the break of support