BTCUSD is coiling for the next move, but I am more inclined to the short side as I believe it needs to retest the recent lows again if it is to make a push higher. Breaking above the downtrendline (blue) invalidates this hypothesis, and will resume longer term bullish trend continuation.
The plan is to enter short position when it touches the upper trendline. Risk-to-reward ratio is at least 1:3, with a potential for more if leaving runners.
The plan is to enter short position when it touches the upper trendline. Risk-to-reward ratio is at least 1:3, with a potential for more if leaving runners.