$BTCDOM/USDT 2h (#BinanceFutures)Ascending triangle break retest
Updated
Bitcoin Dominance Index broke-out bullish on Low Time-Frame (LTF), let's catch next pull-back to 50MA support for continuation scenario.
Current Price= 1273.5
Buy Entry= 1260.1 - 1248.7
Take Profit= 1285.0 | 1311.5 | 1330.9
Stop Loss= 1228.8
Risk/Reward= 1:1.2 | 1:2.23 | 1:2.99
Expected Profit= +19.52% | +36.40% | +48.80%
Possible Loss= -16.32%
Fib. Retracement= 0.618 | 1.117 | 1.414
Margin Leverage= 8x
Estimated Gain-time= 10 days
binance.com/en/support/faq/e3b1ab97a3e24df4b0e41a469ccf7a21
binance.com/en/futures/funding-history/3?contract=BTCDOMUSDT
tradingview.com/markets/cryptocurrencies/global-charts/
Current Price= 1273.5
Buy Entry= 1260.1 - 1248.7
Take Profit= 1285.0 | 1311.5 | 1330.9
Stop Loss= 1228.8
Risk/Reward= 1:1.2 | 1:2.23 | 1:2.99
Expected Profit= +19.52% | +36.40% | +48.80%
Possible Loss= -16.32%
Fib. Retracement= 0.618 | 1.117 | 1.414
Margin Leverage= 8x
Estimated Gain-time= 10 days
binance.com/en/support/faq/e3b1ab97a3e24df4b0e41a469ccf7a21
binance.com/en/futures/funding-history/3?contract=BTCDOMUSDT
tradingview.com/markets/cryptocurrencies/global-charts/
Trade active
First & second entries filledBitcoin Dominance Index just retested demand zone, nice dip catch so far.
Trade closed: target reached
TP1 reached with +19.52% (8x) and +1.2RBitcoin Dominance Index precisely went for last entry before bouncing back straight to first target!
Such an accuracy, bullish continuation is in play, SL adjusted up to 1248.7 in any case.
If you don't get that chart, it means Bitcoin is likely to outperform Altcoin short-term.
Trade closed manually
Remaining position was closed with -3.60% (8x) and -0.22RBitcoin Dominance Index went down revisiting 200MA support then bounced back and is heading higher.
Targets remain valid, If you are still in then keep holding, Bitcoin definitely looks stronger than Altcoin right now.
Comment
🔼BTCDOM/USDT 2h (#BinanceFutures) TP2 would have been reached with +36.40% (8x)Bitcoin Dominance Index kept pushing higher and printed a new Higher High (HH), uptrend remains intact!
Don't forget to partially Take Profit (TP) if you are still longing and move Stop Loss (SL) to Break-Even (BE).
Comment
TP3 would have been reached with +48.80% (8x)Bitcoin Dominance Index went for final target, time to fully close if you were still in!
Related publications
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.