$BTC/USDT 3D (#BinanceFutures) Falling wedge breakout and retest

Bitcoin is pulling back to 200MA where it is likely to bounce towards midline channel.

Current Price=38693.9
Buy Entry= 38462.5 - 35783.2
Take Profit= 43658.2 | 49459.7 | 55392.6
Stop Loss= 31451.7

Risk/Reward= 1:15 | 1:2.18 | 1:3.22
Expected Profit= +17.60% | +33.23% | +49.21%
Possible Loss= -15.28%

Fib. Retracement= 0.382 | 0.559 | 0.702
Margin Leverage= 1x
Estimated Gain-time= 5 months

Tags: #BTC #BTCUSDT #XBT #Blockchain #PoW #Satoshi

Website: bitcoin.org

You can also find or on many other networks (#Ethereum, #BSC...)

Contracts:
#Mainnet
#ERC20 0x2260fac5e5542a773aa44fbcfedf7c193bc2c599
#BEP20 0x7130d2a12b9bcbfae4f2634d864a1ee1ce3ead9c
#BEP2 BTCB-1DE
[...]

Trade active

First entry filled

Bitcoin almost hit second entry before bouncing back, 50MA won't be easy to regain but after that road to 200MA!

Trade active

Second entry filled

Bitcoin dipped again then bounced back on 36310$, bullish scenario is intact!

Trade active

Last entry filled

Bitcoin retraced down further, not looking too good anymore but as long as we stay inside the channel we should be safe!

Trade closed: target reached

TP1 reached with +17.60% (1x) and +1.15R

Bitcoin finally bounced back on 200MA (purple) support and went up to 100EMA (orange) retest!
Won't be easy to regain it, a pull-back to ~41k after hitting ~45k would make sense.
Then continuing bullish towards 50MA (grey), in any case let's adjust SL to last entry (35783.2)

Note

Back to demand zone

#Bitcoin got rejected on 100EMA as mentioned but went lower than expected.
Still holding above 200MA support though, we'll stick to the plan here!

TradingOn

Also on:

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.

TradingOn

Also on: