$BTCDOM/USDT 2D (#BinanceFutures) Rising wedge on resistance

Bitcoin Dominance Index looks locally topped and about to reverse mid-term, let's give it another try!

Current Price= 1517.1
Sell Entry= 1517.1 - 1572.5
Take Profit= 1411.7 | 1311.6 | 1211.1
Stop Loss= 1656.1

Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +17.24% | +30.20% | +43.20%
Possible Loss= -14.40%

Fib. Retracement= 0.236 | 0.382 | 0.559
Margin Leverage= 2x
Estimated Gain-time= 5-6 months

Tags: #BTCDOM #BTCDOMUSDT #BTCD #BitcoinDominance #Index #Futures #Derivatives #Dominance

Contract:
binance.com/en/futures/funding-history/3?contract=BTCDOMUSDT

Trade active

1st entry filled

Bitcoin Dominance Index got rejected on supply zone as planned so far, time for Altcoin recovery?!

Trade active

2nd & 3rd entries filled

BitcoinDominanceIndex wicked up a last time following the forecast, time to swing back Altcoin is near!

Trade closed: stop reached

SL hit with -14.40% (2x) and -1R

Bitcoin Dominance Index broke-out bullish after all, leading to more blood for Altcoin
How much longer that up-trend could last? Well it's hard to say, we'll keep looking for reversal signs!

TradingOn

Also on:

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.