Hello, everyone!
Yesterday the price closed below the uptrend key fractal level, thus the uptrend is over. Now we have to keep the eyes on the downtrend key fractal level, which protects the downtrend.
Let’s take a look at the 4h timeframe of BTCUSDT chart of the WhiteBit exchange. Here we can see the clear short setup. The price is testing the previous level of support. Even if the price will break through the ex uptrend key fractal level, the supply zone and the downtrend key fractal level are the unbreakable levels for now. We can set the stop-loss just above it to take the bearish move to $16-17k which I predicted earlier.
Good luck!
Yesterday the price closed below the uptrend key fractal level, thus the uptrend is over. Now we have to keep the eyes on the downtrend key fractal level, which protects the downtrend.
Let’s take a look at the 4h timeframe of BTCUSDT chart of the WhiteBit exchange. Here we can see the clear short setup. The price is testing the previous level of support. Even if the price will break through the ex uptrend key fractal level, the supply zone and the downtrend key fractal level are the unbreakable levels for now. We can set the stop-loss just above it to take the bearish move to $16-17k which I predicted earlier.
Good luck!
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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.
Access private PineScript strategies and turn alerts into orders with easy-to-set up bots
Trade smarter with:
skyrexio.com
Trade smarter with:
skyrexio.com
Related publications
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.