If we see on the 4-hour time frame, then Bitcoin has not touched EMA 200 yet. But the market pattern shows that it will definitely go to that level. Market is bearish for the short time period and it may go to retest the FVG gap and also will bounce back from EMA 200.
This is a very good short position opportunity. As soon as the price touches EMA 200, there is more chance for rebounce. In this trade, you can get 1.5% profit, which is a good setup for short-term traders.
But one important thing don’t forget to put a stoploss. 115500 will be your stoploss point. Because going upside this level will change the bias.
The market can change direction anytime, so risk management is very important. Your stoploss should be small, so that the loss is minimum if the trade fails.
A good short position trade is ahead. Hopefully it will go in favor of traders. Also there is a chance that it do not respect the EMA 200 then surely the price will further go downside.
Dont forget to sell 80% at EMA 200 and the other 20% wait for the price to go further downside. which can give you good profit.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
Thank You!
Best Wishes.
