BTC/USDT 15m (Binance Fut.) Descending channel facing resistance
Updated
Let's try another scalp for #Bitcoin while it is moving inside that parallel channel.
It could also be a bullish flag, but since parabolic curve broke-down I don't think so!
Current Price= 15494.30
Sell Entry= 15547.34 - 15661.81
Take Profit= 15359.40 | 15219.80 | 15015.84
Stop Loss= 15806.92
Risk/Reward= 1:1.2 | 1:1.88 | 1:2.88
Expected Profit= +10.92% | +17.22% | +26.32%
Possible Loss= -9.17%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 7x
Estimated Gain-time= 24h
It could also be a bullish flag, but since parabolic curve broke-down I don't think so!
Current Price= 15494.30
Sell Entry= 15547.34 - 15661.81
Take Profit= 15359.40 | 15219.80 | 15015.84
Stop Loss= 15806.92
Risk/Reward= 1:1.2 | 1:1.88 | 1:2.88
Expected Profit= +10.92% | +17.22% | +26.32%
Possible Loss= -9.17%
Fib. Retracement= 0.5 | 0.618 | 0.786
Margin Leverage= 7x
Estimated Gain-time= 24h
Trade closed: target reached
TP1 reached with +10.92% (7x)#Bitcoin faked-out to the upside then went down for our first target, I'm glad I did not fall into that trap!
I redrew a bit the channel so you can see we are still inside and there is much room to the downside.
Weekend is ahead, don't be greedy on top of the trend, after the most bull week ever it's time to take profit and rest. ☺️
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