RIX Trading Setup #002 · Trading Setups Desk · BTC
Bitcoin Trading Setup #001: Bearish August Plan
The plan, recorded at publication
| Bias | |
|---|---|
| Entry zone | Open 40% of the position at current market price, which is $65,000 and set a limit short order around $69,000 with the remaining 60%. |
| Leverage | 5x |
| Target 1 | $61,000 |
| Target 2 | $60,000 |
| Horizon | weeks |
| Conviction | High |
Interpretation
This trade is based on my Bitcoin Market Structure rather than a standalone signal. I'm looking for price to move into the resistance area around $69,000 before increasing my short exposure. My current plan is to establish an initial position around current levels and add only if price reaches the resistance zone. The goal is to improve my average entry instead of committing the full position immediately.
Evidence
Trading Setup
BTC short plan
Screenshot
Current plan is to build the short position gradually. Initial exposure begins near current price while additional exposure is planned closer to the $69,000 area to improve the average entry. Targets remain $61,000 and $60,000. The setup becomes weaker if Bitcoin establishes a strong daily close above $70,000.
Key observations
- Trade follows the higher-timeframe bearish thesis.
- Price is approaching a major resistance zone.
- A large FVG gap remains near $69,000.
- Risk improves closer to resistance.
- Targets remain unchanged.
Resolution