Hello,
If you followed my last publication, you know that I could not open the long> $ 11k due to the lack of a bullish exit on the Rising Wedge.
As expected, I opened a short position on Bitcoin at $ 10200.
We had a little pullback but this time, let's go!
I told you that for this positioning, I will specify my target with a new publication here.
So we have a valid descending triangle, its amplitude allows to establish a bearish target at $ 7750. Do not hesitate to TP in stages.
The psychological bar of a BTC returning to 4 digits could support this trade with panic sell.
If you followed my last publication, you know that I could not open the long> $ 11k due to the lack of a bullish exit on the Rising Wedge.
As expected, I opened a short position on Bitcoin at $ 10200.
We had a little pullback but this time, let's go!
I told you that for this positioning, I will specify my target with a new publication here.
So we have a valid descending triangle, its amplitude allows to establish a bearish target at $ 7750. Do not hesitate to TP in stages.
The psychological bar of a BTC returning to 4 digits could support this trade with panic sell.
Trade active
"Everyone" trades the fall within a bearish channel, explaining the false rebound of the day on the horizontal support shown below in white dotted lines (which should not long hold for the next impact) followed by the rejection on the bearish trend line that I had dotted you in red (below a red continuous line), which is the resistance of the bearish channel:Note
We deduce that the next rebound zone could be around $ 9000 on the next support (also drawn in white dotted lines)Note
With the powerful pump of the day, the price has just touched up the main resistance now tracing a bullish signal with a falling wedge of turnaround, watch out for its eventual breakout bull to pass Long!Note
Each bearish trend line is resistant to this bullish rebound, but the resistance lasts only a short time before being crossed upwards, as my graph underlines below.Now, we are on the last oblique of bearish tendency, which for the moment made resistance but until when? and if it is crossed, then there will be no oblique downtrend to obstruct! (except the horizontal resistances of the vertices)
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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.
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.