$BTC/USDT 3 (Binance Futures) Symmetrical triangle breakdown
Bitcoin is looking weak on Low Time-Frame after that bearish break and pull-back, retesting 100EMA right now.
Many altcoins are pumping while ranging but let's hedge with that set-up in case market goes south!
Current Price= 55746.98
Sell Entry= 55768.97 - 56369.97
Take Profit= 53900.81 | 51643.73 | 49482.45
Stop Loss= 58238.13
Risk/Reward= 1:1 | 1:2.04 | 1:3.04
Expected Profit= +19.35% | +39.45% | +58.75%
Possible Loss= -19.35%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 5x
Estimated Gain-time= 10 days
Many altcoins are pumping while ranging but let's hedge with that set-up in case market goes south!
Current Price= 55746.98
Sell Entry= 55768.97 - 56369.97
Take Profit= 53900.81 | 51643.73 | 49482.45
Stop Loss= 58238.13
Risk/Reward= 1:1 | 1:2.04 | 1:3.04
Expected Profit= +19.35% | +39.45% | +58.75%
Possible Loss= -19.35%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 5x
Estimated Gain-time= 10 days
Trade active
First entry filledBitcoin got rejected as planned so far, let's see if it can reach first target at least!
Trade closed: target reached
TP1 reached with +18.55% (5x) and +1RBitcoin respecting perfectly the short-term projection, that's nice!
Trade closed manually
Remaining position closed at 2nd entryBitcoin pulled back to lower-line triangle, broke up 100EMA and is retesting 50MA.
Seems like it's regaining bullish momentum but it's a tricky situation, we are out of that trade for now!
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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.