BTCUSD - 1H - Potential Bearish Butterfly
Updated
I like the Fib ratios up to the D point. For it to land on 61.8 of XA and that area of resistance it wouldn't exactly be 100% of AB extension, but slightly short. Might see a wick up to full 100% of that extension.
Note
I am placing a short entry @ 39690. I am looking to place my stop above X @ 41100 ( -1410)
My TP is 100% Extension of the XA leg @ 36505 ( +3185)
I am risking 2% total equity of my account on this trade.
Trade closed: stop reached
Entry hit and then price shot up to our stop.
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