Short opportunity if the 200MA breaks at the 4H!!
Updated
The reasons why I think we can see another dumb at the short term are:
- The 200MA line is a strong support for the past 7 days, that gives me a reason that it can break soon, because its tested so many times.
- Also the "BTC SHORT" chart is at a very low point. Most likely this means that we dump another time, this happend 2 times before already.
- The last reason for the dumb is that there is a bearflag forming after the dumb of 7 days ago.
My target is at the 200MA at the 1Day time frame, with a stop-loss at the 50MA (On the 4H) that gives a nice risk reward ratio of 3,5 to 1.
Hope you can learn something from my analysis or maybe you can find yourself in this one.
Leave a like if you want more of these! :D
- The 200MA line is a strong support for the past 7 days, that gives me a reason that it can break soon, because its tested so many times.
- Also the "BTC SHORT" chart is at a very low point. Most likely this means that we dump another time, this happend 2 times before already.
- The last reason for the dumb is that there is a bearflag forming after the dumb of 7 days ago.
My target is at the 200MA at the 1Day time frame, with a stop-loss at the 50MA (On the 4H) that gives a nice risk reward ratio of 3,5 to 1.
Hope you can learn something from my analysis or maybe you can find yourself in this one.
Leave a like if you want more of these! :D
Note
We've met the target perfectly, i'm very happy that this analysis went as I predicted!!
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.