Technical analysis by martinxi5u4 about Symbol BTC: Sell recommendation (10/15/2024)

There are conflicting opinions on whether BTC is in a new bullish trend or still stuck in the old downward-facing channel. Honestly, I don't think it matters. Both channels intersect today, and the price has wicked through both. From a shorting perspective, the orange channel represents the "worst case," while the purple one offers the highest downside potential for a short position.I plan to take profits around 55,300 as this seems the most likely next move. Of course, there's always a chance of a breakout and getting liquidated, which is why it's crucial to manage risk and never risk more than 2% of your total capital per trade.Good luck out there! 🫡#BTC #Crypto #RiskManagement #ShortPositionBTC broke out. SL hit