This is a possible Bitcoin short scenario. Bitcoin is struggling to break the key resistance level at $41.5K to reach new ATH's. If the resistance level is broken, this setup will be invalidated. If this setup plays out we should be able to find support at the monthly support level at $29K which would result in a ~30% dump. This is a a healthy correction for Bitcoin in a bullish market cycle.
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Bitcoin is sitting right now at our weekly support level ($33K). This has to hold, if not we will tumble down to my target level of $30K which will complete a 30% drop from my entry.
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My Bitcoin short trade is nearing its finish line. Here are my final thoughts how it goes down:
