$BTCDOM/USDT 2D (#BinanceFutures) Big falling wedge breakout
Updated
Bitcoin Dominance Index seems about to reverse, ahead of the Ethereum Merge it's an opportunity to hedge against big Altcoins.
⚡️⚡️ #BTCDOM/USDT ⚡️⚡️
Exchanges: Binance Futures
Signal Type: Regular (Long)
Leverage: Isolated (2X)
Amount: 11.8%
Current Price:
1197.3
Entry Zone:
1192.8 - 1144.0
Take-Profit Targets:
1) 1168.4
2) 1380.2
3) 1469.0
Stop Targets:
1) 1069.7
Published By: @Zblaba
Risk/Reward= 1:1.25 | 1:2.15 | 1:3.05
Expected Profit= +21.08% | +36.26% | +51.46%
Possible Loss= -16.90%
Fib. Retracement= 0.382 | 0.559 | 0.702
Margin Leverage= 2x
Estimated Gain-time= 3-4 months
Tags: #BTCDOMUSDT #BTCD #BitcoinDominance #Index #Futures #Derivatives #Dominance
Component Info:
binance.com/en/futures/funding-history/3?contract=BTCDOMUSDT
⚡️⚡️ #BTCDOM/USDT ⚡️⚡️
Exchanges: Binance Futures
Signal Type: Regular (Long)
Leverage: Isolated (2X)
Amount: 11.8%
Current Price:
1197.3
Entry Zone:
1192.8 - 1144.0
Take-Profit Targets:
1) 1168.4
2) 1380.2
3) 1469.0
Stop Targets:
1) 1069.7
Published By: @Zblaba
Risk/Reward= 1:1.25 | 1:2.15 | 1:3.05
Expected Profit= +21.08% | +36.26% | +51.46%
Possible Loss= -16.90%
Fib. Retracement= 0.382 | 0.559 | 0.702
Margin Leverage= 2x
Estimated Gain-time= 3-4 months
Tags: #BTCDOMUSDT #BTCD #BitcoinDominance #Index #Futures #Derivatives #Dominance
Component Info:
binance.com/en/futures/funding-history/3?contract=BTCDOMUSDT
Trade active
1st entry filledBitcoin Dominance Index almost hit 2nd entry then bounced back after the Merge, great start with up to +11.80% (2x)
Trade closed: target reached
TP1 reached with +21.08% (2x) and +1.25R🎯Bitcoin Dominance Index went straight up where it got rejected on 100EMA (orange) resistance so far.
Higher targets are still in play, let's update SL below lowest entry (1143.9$) anyway!
Trade closed: target reached
🎯 TP3 reached with +51.5% (2x) and +3.05RBitcoin Dominance finally made it to last target, set-up fully played out!
We can see a rising wedge now, as soon as it breaks down we'll see a relief rally on big Altcoin
Related publications
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.