$BTC/USDT 3h (Binance Futures) Ascending wedge facing resistance
Bitcoin s likely to retrace a bit this month, maybe even this week, so let's hedge!
Current Price= 56393.68
Sell Entry= 56323.70 - 57416.74
Take Profit= 53167.18 | 49477.86 | 45773.40
Stop Loss= 60573.06
Risk/Reward= 1:1 | 1:2 | 1:3
Expected Profit= +19.53% | +39.00% | +58.53%
Possible Loss= -19.53%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 3x
Estimated Gain-time= 10 days
Current Price= 56393.68
Sell Entry= 56323.70 - 57416.74
Take Profit= 53167.18 | 49477.86 | 45773.40
Stop Loss= 60573.06
Risk/Reward= 1:1 | 1:2 | 1:3
Expected Profit= +19.53% | +39.00% | +58.53%
Possible Loss= -19.53%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 3x
Estimated Gain-time= 10 days
Trade active
All entries filledBitcoin respected perfectly the sell zone, but bears weren't strong enough to really dump it.
This scenario is still valid but I would be glad if it manages to range a bit before any big move happens!
Trade closed: stop reached
SL hit with -19.53% (3x) and -1RBulls took over and #Bitcoin broke the wedge upwards after all and made a new ATH at 61950$!
Too bad for that hedge trade, but quite a positive thing for crypto market generally 📈
I think it is likely to continue the up-trend so I will look for some more scalp longs next week.
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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.