Technical crypto analysis based on breakout – Short BTC towards $8,192.30

BTC –

Short BTC towards $8,192.30

Technical Observation

BTC is currently trading with an increasing bearish momentum bias. The last day’s candle was a perfect bearish pin bar candle and indicates the potential of price continuing to the lower side. I’m waiting for a retracement towards the previous day’s opening price to short this crypto, with my first take profit at $8,192.30 and the next take profit at $6,945.17. If these take profits are taken out, then BTC could decline in value massively with the next take profit at $1,000.00. As it is, buy position can be encouraged above $9,171.80 or above $11,352.34.

Trade Signal.

Short BTC towards $8,192.30 and the next take profit at $6,95.52.

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