$BTC.D 1D (Cryptocap) Big bearish pennant on resistance
Updated
Bitcoin Dominance is breaking out locally but we expect to be rejected on 150EMA and pennant/wedge upper-line.
This is the true chart in percentage that can help us trading the Binance Futures Composite Index!
Current Percent= 48.35
Sell Entry = 49.00 - 50.00
Take Profit= 46.40 | 43.97 | 41.47
Stop Loss= 51.05
Risk/Reward= 1:2 | 1:3.57 | 1:5.18
Expected Profit= +31.30% | +39.96% | +63.72%
Possible Loss= -15.65%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 5x
Estimated Gain-time= 1.5 months
This is the true chart in percentage that can help us trading the Binance Futures Composite Index!
Current Percent= 48.35
Sell Entry = 49.00 - 50.00
Take Profit= 46.40 | 43.97 | 41.47
Stop Loss= 51.05
Risk/Reward= 1:2 | 1:3.57 | 1:5.18
Expected Profit= +31.30% | +39.96% | +63.72%
Possible Loss= -15.65%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 5x
Estimated Gain-time= 1.5 months
Trade active
This is going as planned so far and I still expect some rejection at 50%Trade closed: target reached
TP1 reached with +31.30% (5x) and +2RBitcoinDominance got rejected on top of the wedge then retraced and just broke-it down.
Very nice profit if you shorted BTCDOM index on Binance Futures and/or jumped in Altcoins.
Now sitting on 50MA & asc TL support, this is a bounce or fall for the dominance, prepare for action!
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