BTC Bearish 5-0 Pattern
Hourly candle broke the bear flag with volume. The coming 2-3 days i expect a revisit of the 2400 support line. If the following bounce surpasses 0.5 of the BC leg, I consider the pattern invalid and a return to ATH more likely.
Otherwise, BTC will likely break 2400 and continue to ~2260.
Short from 2740
SL 2755
TP 1 2610
TP 2 2400
Otherwise, BTC will likely break 2400 and continue to ~2260.
Short from 2740
SL 2755
TP 1 2610
TP 2 2400
Trade closed: stop reached
Stopped at 2694, BTC broke its downward channel. At the moment upside movement is a 50/50 in my opinion, will update as the situation evolves.
Note
Short reactivated @ 2643 with a SL at 2658. BTC was caught in the 3/1 Gann line. Let's see how things develop.Note
Amend: 2743
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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.