🔴 #BTC short setup

٣ أغسطس ٢٠٢٣

The BTC chart looks bearish.

We've formed a pattern of a small base under a larger one, with a small base also located under the BoS short level at 29400.

I'm considering a scenario where price returns to the high-volume level of the larger base at 30262, and tests the imbalance range (30530-30900) from above before moving downward. At the high-volume level, I'll be searching for an entry into a short position with the following targets:
TP1 - 29285 - high-volume level of the small base
TP2 - 27660 - 0.5 imbalance of the 4-hour and daily candle
TP3 - 26050 - 0.5 imbalance of the daily candle and high-volume level at 25790

I will place the stop loss beyond the imbalance boundary at 31030.