$BTC/USDT 4h (Binance Fut.) Symmetrical triangle break & retest
Bitcoin hedge in case market reverses here, in order protect our capital a bit.
Current Price= 36493.96
Sell Entry = 36793.10 - 37714.90
Take Profit= 35101.29 | 33403.28 | 32286.82
Stop Loss=39018.29
Risk/Reward= 1:1.25 | 1:2.23 | 1:2.87
Expected Profit= +23.36% | +41.56% | +53.56%
Possible Loss= -18.68%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 4x
Estimated Gain-time= 10 days
Current Price= 36493.96
Sell Entry = 36793.10 - 37714.90
Take Profit= 35101.29 | 33403.28 | 32286.82
Stop Loss=39018.29
Risk/Reward= 1:1.25 | 1:2.23 | 1:2.87
Expected Profit= +23.36% | +41.56% | +53.56%
Possible Loss= -18.68%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 4x
Estimated Gain-time= 10 days
Trade active
First entry filledBitcoin went for 100EMA retest as expected and is now heading down, let's hope to reach 1st target at least.
Trade closed: target reached
TP1 was reached with +23.36% (4x) and +1.25RBitcoin retraced down as planned at first, then bounced back and regained descending TL & 100EMA.
PC bot closed remaining position at 2nd entry with -4.68% (4x), good thing because it went for SL after.
If you are still shorting, we recommend fully closing if ascending TL & 200MA are broken, a last pull-back is likely to give long opportunity!
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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.