Long Term Short Setup Using Raghee Horner's Indicators

In addition to the elliot count short setup posted previously I'm going to be scaling into a short on btc using the 34 ema indicators often used by Raghee Horner.

The basic idea is to short into touches of the 34 ema of the day lows with a stop a bit above at the 34 ema of the day highs.

The darvas box shows that price is forming a poor low which is likely to be retested and after a few strikes on the propulsion dot area it is likely to break lower and make a measured move to the $2 to $1k region.

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Edit: "poor low" was not the exactly the right term to use there. However I interpret the darvas box low to represent an unfinished auction that will be revisited because of interest in exploring lower prices.

There is not a very sharp rejection wick at the bottom, there is a relatively large amount of volume at lower prices which will attract sellers there again and cause buyers to capitulate when it starts to threaten sub 3k prices.

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Bullish now