$BTCDOM/USDT 3h (Binance Futures) Falling wedge break and retest
Bitcoin Dominance index seems to be reversing while Bitcoin is trying to make new All Time High.
Current Price= 1072.4
Buy Entry = 1066.0 - 1049.2
Take Profit= 1111.9 | 1170.6 | 1240.1
Stop Loss= 1012.2
Risk/Reward= 1:1.2 | 1:2.49 | 1:4.02
Expected Profit= +20.52% | +42.72% | +69.04%
Possible Loss= -17.16%
Fib. Retracement= 0.382 | 0.618 | 0.883
Margin Leverage= 4x
Estimated Gain-time= 3 weeks
Current Price= 1072.4
Buy Entry = 1066.0 - 1049.2
Take Profit= 1111.9 | 1170.6 | 1240.1
Stop Loss= 1012.2
Risk/Reward= 1:1.2 | 1:2.49 | 1:4.02
Expected Profit= +20.52% | +42.72% | +69.04%
Possible Loss= -17.16%
Fib. Retracement= 0.382 | 0.618 | 0.883
Margin Leverage= 4x
Estimated Gain-time= 3 weeks
Trade active
First entry filledBitcoin Dominance dipped to demand zone and bounced on 50MA support confirming the breakout.
Trade closed: target reached
TP1 reached with +20.52% (4x) and +1.2RBitcoin Dominance wicked up during flash correction, that was all the purpose of that Altcoins hedge!
Now it pulled back but we still expect further growth in the days to come, SL edited to 1049.2$ in any case.
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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.