$BTC/USDT 4h (Binance Futures) Falling broadening wedge breakout
Bitcoin has broken out bullish locally then got rejected on 100EMA.
Now it is pulling back and about to retest the wedge, let's catch next dip!
Current Price= 32734.74
Buy Entry = 31964.00 - 31176.00
Take Profit= 34498.00 | 35988.00 | 38235.00
Stop Loss= 29472.00
Risk/Reward= 1:1.4 | 1:2.11 | 1:3.18
Expected Profit= +27.81% | +41.97% | +63.33%
Possible Loss= -19.95%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 3x
Estimated Gain-time= 2 weeks
Now it is pulling back and about to retest the wedge, let's catch next dip!
Current Price= 32734.74
Buy Entry = 31964.00 - 31176.00
Take Profit= 34498.00 | 35988.00 | 38235.00
Stop Loss= 29472.00
Risk/Reward= 1:1.4 | 1:2.11 | 1:3.18
Expected Profit= +27.81% | +41.97% | +63.33%
Possible Loss= -19.95%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 3x
Estimated Gain-time= 2 weeks
Trade active
First entry filledBitcoin kept dipping as expected and reacted well on demand zone so far.
Trade closed: target reached
TP1 reached with +27.81% (3x) and +1.4RBitcoin bounced back up as planned and regained 100EMA, that's a relief 🙌🏼
Note
Possible next moveBitcoin could retest 100EMA before continuing bullish, we are not switching to bear here.
Trade closed: target reached
TP2 reached with +41.97% (3x) and +2.11RNo pulling back, Bitcoin kept pushing up and brought us a very nice profit from local bottom! 💪🏼
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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.