$BTCDOM/USDT 2h (Binance F.) Descending trendline break & retest
Updated
Bitcoin Dominance is locally reversing again, let's enter on a pull-back to hedge our Altcoins positions against Bitcoin.
Current Price= 929.6
Buy Entry = 925.2 - 917.2
Take Profit= 944.7 | 960.4 | 983.9
Stop Loss= 901.6
Risk/Reward= 1:1.2 | 1:2 | 1:3.52
Expected Profit= +17.85% | +29.82% | +47.67%
Possible Loss= -14.91%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 7x
Estimated Gain-time= 10 days
Current Price= 929.6
Buy Entry = 925.2 - 917.2
Take Profit= 944.7 | 960.4 | 983.9
Stop Loss= 901.6
Risk/Reward= 1:1.2 | 1:2 | 1:3.52
Expected Profit= +17.85% | +29.82% | +47.67%
Possible Loss= -14.91%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 7x
Estimated Gain-time= 10 days
Trade active
First entry filledBitcoin Dominance directly pumped to last target then pulled back letting us in, time to be very patient, more than ever!
Trade closed: target reached
TP1 reached with +17.85% (7x) and +1.2RBitcoin Dominance bouncing as expected while Altcoins market is bleeding more than Bitcoin, great way to hedge!
SL adjusted to lowest entry (917.2$) to secure the trade and let it run.
Trade closed: target reached
TP2 reached with ++29.82% (7x) and +2RBitcoin Dominance kept going up following the forecast, that's nice to earn on those hard market conditions.
SL edited up to first entry (925.2$), so we've got a winner today!
Trade closed: target reached
TP3 reached with +47.67% (7x) and +3.52RBitcoin Dominance went for last target in the end, unfortunately PC bot sold remaining position with +3.01% (7x) and +0.2R on the first pull-back!
Currently forming a rising wedge, if confirms the break-down we would see a bullish momentum in Altcoins.
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