$BTC/USD 8h (#Bybit) Descending trendline on resistance
Updated
⚡️⚡️ #BTC/USD ⚡️⚡️
Exchanges: ByBit, BitMEX, Binance Coin-Futures
Signal Type: Regular (Short)
Leverage: Isolated (3.0X)
Current Price:
43399.5
Entry Zone:
43260.0 - 44712.0
Take-Profit Targets:
1) 40620.0
2) 37791.0
3) 35742.0
Stop Targets:
1) 46802.0
Bitcoin is facing strong supply zone here and is likely to locally reverse on 200MA, let's #Hedge!
Risk/Reward= 1:1.2 | 1:2.2 | 1:2.93
Expected Profit= +22.95% | +42.24% | +56.22%
Possible Loss= -19.20%
Fib. Retracement= 0.236 | 0.5 | 0.702
Margin Leverage= 3x
Estimated Gain-time= 1 month
Tags: #BTC #BTCUSDT #XBT #Blockchain #PoW #Satoshi #BSC
WBTC BBTCB
Website: bitcoin.org
Exchanges: ByBit, BitMEX, Binance Coin-Futures
Signal Type: Regular (Short)
Leverage: Isolated (3.0X)
Current Price:
43399.5
Entry Zone:
43260.0 - 44712.0
Take-Profit Targets:
1) 40620.0
2) 37791.0
3) 35742.0
Stop Targets:
1) 46802.0
Bitcoin is facing strong supply zone here and is likely to locally reverse on 200MA, let's #Hedge!
Risk/Reward= 1:1.2 | 1:2.2 | 1:2.93
Expected Profit= +22.95% | +42.24% | +56.22%
Possible Loss= -19.20%
Fib. Retracement= 0.236 | 0.5 | 0.702
Margin Leverage= 3x
Estimated Gain-time= 1 month
Tags: #BTC #BTCUSDT #XBT #Blockchain #PoW #Satoshi #BSC
WBTC BBTCBWebsite: bitcoin.org
Trade active
All entries filled Bitcoin is getting rejected on resistance and RSI as well, we'll stick to the plan here!
Note
Back to supply zoneBitcoin is facing similar situation, trying to push higher but not strong enough yet!
Trade closed: target reached
TP3 was reached with +56.22% (3x) and +2.93RBitcoin retraced down quite accurately and achieved all targets before bouncing very strong!
Now back to entry, you could give it another try but we would not expect more than TP1 since the picture looks more bullish now.
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