$BTC.D 1D (Cryptocap) Big bearish pennant on resistance
Bitcoin Dominance is breaking out locally but we expect to be rejected on 150EMA and pennant/wedge upper-line.
This is the true chart in percentage that can help us trading the Binance Futures Composite Index!
Current Percent= 48.35
Sell Entry = 49.00 - 50.00
Take Profit= 46.40 | 43.97 | 41.47
Stop Loss= 51.05
Risk/Reward= 1:2 | 1:3.57 | 1:5.18
Expected Profit= +31.30% | +39.96% | +63.72%
Possible Loss= -15.65%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 5x
Estimated Gain-time= 1.5 months
This is the true chart in percentage that can help us trading the Binance Futures Composite Index!
Current Percent= 48.35
Sell Entry = 49.00 - 50.00
Take Profit= 46.40 | 43.97 | 41.47
Stop Loss= 51.05
Risk/Reward= 1:2 | 1:3.57 | 1:5.18
Expected Profit= +31.30% | +39.96% | +63.72%
Possible Loss= -15.65%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 5x
Estimated Gain-time= 1.5 months
Trade active
This is going as planned so far and I still expect some rejection at 50%Trade closed: target reached
TP1 reached with +31.30% (5x) and +2RBitcoinDominance got rejected on top of the wedge then retraced and just broke-it down.
Very nice profit if you shorted BTCDOM index on Binance Futures and/or jumped in Altcoins.
Now sitting on 50MA & asc TL support, this is a bounce or fall for the dominance, prepare for action!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.