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SCALP SHORT TRADE IDEA (short term) $29,888 MUST HOLD (BTC) for BITFINEX:BTCUSD by YurloTrades

Good morning traders,

First of all if you liked my last call about the short squeeze and late shorts being targeted please drop a like or leave a comment to show your support as it means a lot 👍

If you follow my twitter you’d see on top of the technical analysis that there was a chance Asia would pump the market and once $30,000 broke it was explosive and fast.

Hourly chart overbought, expecting some sort of pullback to test support and see if there’s buyers waiting.

$30,000 needs to hold on the next daily close to continue this momentum, Elon Musk has a big conference/debate tomorrow and I’m sure the market will react.

In 2019 before the major leg down we had a massive pump squeezing shorts before heading lower and that could be what we’re seeing.

If we head higher I’ll average into a short but I’m in a very very low leveraged short looking for that 3rd validation point (the x is the location / area of interest) and if that happens I’ll add size.

Closed the long from earlier, waiting to see some confirmation for a local bottom before touching any leveraged in a long position.

Remember, this technical analysis post is just a scalp as a hedge to wait for confirmation before going ahead and adding if $29,888 holds.

Flowing with the market is key, always remember to plan your trade and trade your plan 👍

Cheers, and remember to smash that like button if you liked my recent call on the short squeeze! 👍

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