BTC hit the resistance level at the 25000 price point from where, it started to reverse and move in the bearish direction. We are looking at the bearish impulse move towards the support level or beyond the support to further decline. The overall trend on H4 is still in a range, or the latest is still bullish. That being said, we are taking the short position in order to continue shorting.

The ascending trendline has broken out for sells. It needs validation after which we can confirm the bearish dive.

There is no retracement indication in this particular setup.

The EMA 50 is still bullish. We can assess the EMA 50 retest as the potential profit target. 

RSI is at 53. We need to see the RSI resort to the over bought region, where, we can form a bearish divergence to see the market continue moving down.

BTC shorts from 25,000

Feb 25 2023

Stop Loss -4.99%

Holding time 0hr

24946.60

Entry price

26191.60

Stop loss price