Short BTC: Upon breaking the Confluence at Daily Support

As you can see in the chart, BTC has respected the short-term and mid-term trends while having tested the weekly resistance multiple times unsuccessfully. Now it faces a confluence at daily support (previously daily resistance) where the short-term trend has to be broken too. Once broken, in my view, there is a 70% chance that BTC will respect the mid-term trend and reverse from around 20500. Otherwise, it may test the daily support going below 19500.

This is not a financial advice. Be careful and goodluck.

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The market did not yet go in the direction of this trade, so the trade did not initiate which is commendable too!

ps. btc has broken the long-term trend line. this could mean a big trap or a big opportunity window to amicable exit from troubled positions. be careful.