Before looking at the local perspective, we would like to mention that globally we are now moving within two main patterns:
AMEXP on
ETHBTC dated July 29👇
And the pattern onBTCUSD, which we first recognized as MDB on the daily timeframe dated May 21 and later formed as EXP on the weekly timeframe and essentially describes the current trend 👇
Our expectations are now based on the fact that onETHBTC we see a key magnetic level at 0.03492, which we will reach with a high probability (we have marked this block with a red square on the chart).
We also note that CME also opened with a GEP at $52,980, andBTC1! has two nearest open GEPs: at $61,880 and $52,980👇
Locally, we now see three main scenarios:
1️⃣BTCUSD reaches the $56,552 level, after which it continues to decline with a target of $48,973
2️⃣BTCUSD does not reach the level of $56,552 and continues its decline with a target of $48,973.
3️⃣BTCUSD reaches the level of $56,552 and continues to move towards $61,700.
Now you have an open long onBTCUSD and over the weekend we opened a hedging short on ETHUSD for a portion of the BTCUSD position, and now in the case of each scenario:
1️⃣BTCUSD close half on the first target around $56,552 and put the stop to breakeven, then on the downside close the profitable hedge short
2️⃣ Around $48,973 close the hedge-short onETHUSD on the fall and buy more BTCUSD
3️⃣ CloseBTCUSD position on all targets, part of the profit is taken by a losing hedge-short on $INDEX:ETHUSD.
Thus, in the current market situation we have formed such a construction, which will allow us to earn in most of our expected scenarios
AMEXP on
ETHBTC dated July 29👇And the pattern on
BTCUSD, which we first recognized as MDB on the daily timeframe dated May 21 and later formed as EXP on the weekly timeframe and essentially describes the current trend 👇Our expectations are now based on the fact that on
ETHBTC we see a key magnetic level at 0.03492, which we will reach with a high probability (we have marked this block with a red square on the chart).We also note that CME also opened with a GEP at $52,980, and
BTC1! has two nearest open GEPs: at $61,880 and $52,980👇Locally, we now see three main scenarios:
1️⃣
BTCUSD reaches the $56,552 level, after which it continues to decline with a target of $48,9732️⃣
BTCUSD does not reach the level of $56,552 and continues its decline with a target of $48,973.3️⃣
BTCUSD reaches the level of $56,552 and continues to move towards $61,700.Now you have an open long on
BTCUSD and over the weekend we opened a hedging short on ETHUSD for a portion of the BTCUSD position, and now in the case of each scenario:1️⃣
BTCUSD close half on the first target around $56,552 and put the stop to breakeven, then on the downside close the profitable hedge short2️⃣ Around $48,973 close the hedge-short on
ETHUSD on the fall and buy more BTCUSD 3️⃣ Close
BTCUSD position on all targets, part of the profit is taken by a losing hedge-short on $INDEX:ETHUSD. Thus, in the current market situation we have formed such a construction, which will allow us to earn in most of our expected scenarios
📈 Investing is easier than you're used to
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🌐 tsfc.io
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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.
📈 Investing is easier than you're used to
🌐 tsfc.io
🌐 tsfc.io
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.