BTCUSDT - Power Breakout - H1
After that last horrible sell off Bitcoin looks ready for another dump. The setup in play here is a Power Breakout, that ocurrs when the SMA 20 pressures the price out of a range. In this case a bearish movement, as Entry, Targets and Stop we can look for those below:
Entry - $44,412.02
Stop - $47,544.93
T1- $42,475.88
T2- $41,279.11 (Most likely to be hit)
T3- $39,342.97
T4 - $38,146.11
T5- $36,210.06
T6 - $35,013.29
T7- $33,077.15
T8 - $29,944.24
Thank you for reading.
Entry - $44,412.02
Stop - $47,544.93
T1- $42,475.88
T2- $41,279.11 (Most likely to be hit)
T3- $39,342.97
T4 - $38,146.11
T5- $36,210.06
T6 - $35,013.29
T7- $33,077.15
T8 - $29,944.24
Thank you for reading.
Note
For a more conservative entry, would wait to an H1 candle close below the entry price, with some volume, then wait for a retest on the entry. Please choose your risk profile properly.
Note
Finally a proper breakout
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.
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.