Updated

BTC two scenarios

BTC is currently sitting near 10k. If it breaks under 10k, this would validate the descending broadening wedge. Looking to short to 8.9k and then enter a long position to 11.2k

Trade 1 - Short

Entry - 9965.7
TP1 - 9603
TP2 - 9049.8
Stoploss - 10410

Trade 1 - Long

Entry - 8963.7
TP1 - 9863.7
TP2 - 11129
Stoploss - 8285.5

Note

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This is another possibility however I will not be trading this

Note

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Trade active

10k broken, trade active

Note

Trade update - Bitcoin failed to break out of the descending broadening wedge, thus another touch of the bottom trendline is required. Target is 8.9k

Note

This is another scenario which I see possible, I will update the long side of the trade to possibly get a better entry depending on price action at around the 9k level

Note

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Well it looks like this scenario tried to play out however was rejected at 10,500 and is now on it's way down. I will have to be more generous with my stops in future, however I do see the second half of the trade playing out.

douglasaa

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douglasaa