BTCUSD - SHORT TERM - Trade with Caution!

Currently the price is at the top of the current ascending channel inside the larger descending channel.
The drawn channel has been respected thus far and usually an ascending channel breaks down.
However, the price is traded at the top of the channel, indicating the bulls are still holding the price.

With a BULLISH bias, one could play the price up to potentially 9.3K - 9.4K with a very tight Stop Loss.

BEARISH bias, wait until price is traded in the lower part of the channel and look for weakness in bullish volume to get a good SHORT Entry.
One could also wait to see weakness in the bullish volume, if price hits 9.3K to get a good SHORT entry.

We prefer the Bearish bias here as it is seem to have the least amount of risk.


Stay safe and happy trading :)