• Bitcoin has risen lately but seems to have past the oversold zone at the 4 hour candle timeframe
• The 2.5 to 1 reward vs risk here, along with the fact that Bitcoin may be exhausted at the top of the range, makes a short position consideration legit
• Entry Price for the Bitcoin short position: $21299
• Stop Loss: $22004 (risk 3.31%)
• Take Profit: $19533 (target a gain of 8.29%)
• Reward vs Risk for this Bitcoin short position: 2.5 to 1

Bitcoin Trade Idea Chart

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This article was written by ForexLive at www.forexlive.com.