BTC short setup
Updated
Please 1st of all click the boost🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely free of charge.
Crypto bears having the upper hand and there are many reasons why you shouldn't be bullish yet. For example this...
...or this (check also the other ideas from this series)...
But now back to this current idea. After the brutal sell-off (initial impulse; FTX bankruptcy) ₿itcoin recently consolidated in form of triangle. Now price seems to breaking out this triangle📐 and I think there is chance for run to 13550 and even lower. Setting SELL LIMIT order to previous range low to catch🎣 the pullback (backtest of the triangle lower edge).
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Crypto bears having the upper hand and there are many reasons why you shouldn't be bullish yet. For example this...
...or this (check also the other ideas from this series)...
But now back to this current idea. After the brutal sell-off (initial impulse; FTX bankruptcy) ₿itcoin recently consolidated in form of triangle. Now price seems to breaking out this triangle📐 and I think there is chance for run to 13550 and even lower. Setting SELL LIMIT order to previous range low to catch🎣 the pullback (backtest of the triangle lower edge).
- ENTRY: local low @ 15900
- STOPLOSS (SL): local high @ 16320
- TARGET (TP): height of the triangle projected from midpoint of the local range (SELL LIMIT - STOPLOSS) @ 13550
- REWARD RISK RATIO (RRR): 5.5
- INVALIDATION: when SL level hit
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active
SELL LIMIT Order filled ✔️Trade closed: stop reached
Stoploss hit 🛑
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.