Short position in BTC - update

In a previous post a few days ago, I shared my intention to open a short position in $BTC . Although the price approached my initial entry zone, It didn't enter. On the contrary, these past few days it has shown more weakness than I expected, so I decided to readjust my position as follows:

- I just made my first sale near 67,000 -> This was after seeing the price's inability to break above the 21-day moving average again. Added to this is the fact that the upward movement that took the price to 74,000 can now be considered a fake-out or bull trap. I was just waiting for the weekly close to enter, which ultimately resulted in a shooting star candlestick pattern very similar to a move it made during the 2022 bear market before continuing its decline.

- I decided to place the second sale at 74500 -> however, I see it as very difficult for it to be executed given that the 50-period moving average on the daily chart is already around 73000, so if the price makes another upward attempt, I don't think it will surpass it, so perhaps if I see such an attempt, I might execute it in that area.

I hadn't planned to enter unless the price reached my ideal zone, but given the weekly close, coupled with the fact that the S&P 500 is trying to confirm a break below the 21-period moving average (and that it has almost always followed up with a larger drop, which unfortunately has dragged the crypto market down in all previous instances), I finally decided to enter.

As for the stop-loss, I decided to move it to 80,700. It's still behind most of the moving averages, the 0.5 Fibonacci retracement level, and with the liquidity wall around 75,000 acting as protection.

Finally, I decided to move the first take-profit level slightly to 54,000. After these adjustments to the trade, the risk/reward ratio is approximately 1:1.7. It's not as good as before, but it's still quite good.

I'll be updating as the trade develops. You can follow me to stay updated and review my previous post about this "short-trade" for further understanding.

Thanks for reading.