BITCOIN - $5,000 / $20,000 Trade Opportunities

Currency Pair: BTC.USD
Time Frame: Weekly, Daily & 4hr
Predicted Direction: Short

Live BTC.USD updates will be available in the comments section below.

The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.

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Should you be looking short i would also consider awaiting a break of the $8777 level given the 4hr TF minor 4hr 50EMA and ascending trendline support.

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Additional harmonic structure to consider when identifying reversal areas.

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Keep an eye on the Daily timeframe over the weekend, should we break the $11,300 level it's likely we will see a quick acceleration towards $14,000

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Given the 4hr 50EMA and ascending trendline support, should price break and close below $9400 i see a short opportunity.

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4hr double top forming at descending trendline resistance, still nothing to trade on this setup given the structure in both directions.