A very quick and simple update [i](done on limited analysis)[/i].
Bitcoin has been Trending Down in price, since my Short/Entry @ Top, 🔽 ⚠️ [b]however, it does look like BTC could see some recovery soon, today. 🔼[/b]
I wouldn't consider Bitcoin out of the woods yet, until further price data is available, but it does look like a recovery bounce is due today.
(Opinion could be useful consideration for those who take Short-Term/Scalp trades.)
[sep]
[big]April 21st Update:[/big]
Good thing I Cancelled that quick Scalp Buy attempt early, yesterday (19 hrs ago). 🙂 Avoiding any losses. 🛡
[u]For those confused:[/u] Yes, I continue to keep my initial Shorts/Sells from BTC $30974, open, since I wasn't convinced that this current down-trend is over.
I can scalp-trade on other BTC/USD pairs, to attempt making quick intra-day profits (while trying to share some optimism).
Still looking for some slowdown of this Drop, to Buy for at least a short-term bounce today.
While Bitcoin's price has held for some hours at the Target Box/Zone (which means that anyone who took buys there should still be in a safe position), I don't have high confidence on what might be the best short-term (24hr) setup, from here.
One reason I rarely take losses (as I've repeated before), is that I'm always willing to abandon trade ideas (especially early/while still in a safe position), if I feel uncertainty about the next move.
I can see possibility of Bitcoin sneakily climbing up from here... and also I can see the possibility of One Last Small to Medium sized drop, before a meaningful upward-bounce.
I was at least confident that price would not dump right through that Zone/Box on chart, but was hoping for a quick and sharp bounce reaction, for quick scalp profits.
(Note: I do at times scalp trade on other BTC/USD pairs, while I keep my swing trade (short from the Top) open for some time.)
[sep]
[b]⚠ Important to add also:[/b]
Bitcoin's price actually hasn't yet hit the Lower Channel, drawn in my more detailed Analysis chart (in OP).
So it's reasonable for price to take one last drop into that lower channel, before a meaningful rebound.
