BTC/USDT 8H (Binance Fut.) Symmetrical Triangle near breakout
Bitcoin is under EMAs & MAs and facing resistance zone, so it would probably revisit the channel support (rose one).
I'm expecting more downtrend if parallel channel breaks-out also, that's why I put targets below it, set-up:
Sell Entry= 6934.50 - 7041.50
Take Profit= 6650.52 | 6313.72 | 5637.92
Stop Loss= 7325.52
Risk/Reward= 1:1 | 1:2 | 1:4
Expected Profit= 24.15% | 48.25% | 96.60%
Possible Loss= -24.15%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 5x
I'm expecting more downtrend if parallel channel breaks-out also, that's why I put targets below it, set-up:
Sell Entry= 6934.50 - 7041.50
Take Profit= 6650.52 | 6313.72 | 5637.92
Stop Loss= 7325.52
Risk/Reward= 1:1 | 1:2 | 1:4
Expected Profit= 24.15% | 48.25% | 96.60%
Possible Loss= -24.15%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 5x
Trade active
All entries filled!Trade closed: stop reached
Stopped at -24.15% (5x)
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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.