$BTCDOM/USDT 12h (#BinanceFutures) Rising wedge on resistance
Bitcoin Dominance Index just printed an Evening Star and is likely to reverse from up here.
Current Price= 1320.3
Sell Entry= 1320.0 - 1345.6
Take Profit= 1267.1 | 1215.9 | 1172.0
Stop Loss= 1381.6
Risk/Reward= 1:1.35 | 1:2.4 | 1:3.3
Expected Profit= +24.65% | +43.85% | +60.30%
Possible Loss= -18.30%
Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 5x
Estimated Gain-time= 1.5 months
Tags: #BTCDOM #BTCDOMUSDT #BTCD #BitcoinDominance #Index #Futures #Derivatives #Dominance
binance.com/en/futures/funding-history/3?contract=BTCDOMUSDT
Current Price= 1320.3
Sell Entry= 1320.0 - 1345.6
Take Profit= 1267.1 | 1215.9 | 1172.0
Stop Loss= 1381.6
Risk/Reward= 1:1.35 | 1:2.4 | 1:3.3
Expected Profit= +24.65% | +43.85% | +60.30%
Possible Loss= -18.30%
Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 5x
Estimated Gain-time= 1.5 months
Tags: #BTCDOM #BTCDOMUSDT #BTCD #BitcoinDominance #Index #Futures #Derivatives #Dominance
binance.com/en/futures/funding-history/3?contract=BTCDOMUSDT
Trade active
2/3 entries filledBitcoin Dominance Index is breaking down, following the plan nicely with up to +17.90% (5x) so far.
Trade closed: target reached
TP1 reached with +24.65% (5x) and +1.35RBitcoin Dominance Index broke the wedge down and is heading towards 2nd target, the Evening Star worked as a charm!
100EMA (orange) support was just lost as well, looks good for more #Altcoin relief, SL edited to highest entry (1345.6) now.
Trade closed: target reached
TP2 reached with +43.85% (5x) and +2.4RBitcoinDominance Index continued with the local downtrend and seems to be road to 200MA support!
Don't forget to book some profit here, SL edited to lowest entry (1320.0) to secure the trade.
Trade closed: target reached
TP3 reached with +60.30% (5x) and +3.3R🎯BitcoinDominance Index lost 200MA support and made it to final target, that's a wrap!
RSI is back to its lowest level, that means a bounce would make sense, trade is fully closed.
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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.