I rarely do any prediction here due to time constraint. Last long position has profited with 50% (x10 Leverage) and it was 9th winning swing trade. This should be another easy swing trade here.
SHORT POSITION (BITCOIN)
Set Up *1
Entry Prices: $9150-$9400
Take Profit: $8900-$8350
Stop Loss: $9700
Risk:Reward= 1:2-1:5
Set Up *2
Entry Prices: $9193-$9350
Take Profit: $8900
Stop Loss: $9500
Risk:Reward= 1:1-1:3
High hidden sell momentum, low buy momentum with previous higher high at $9800. Both support and resistance have been retested twice. However with the bearish signs with low buy momentum, low volume, close to triangle's breakouts, I will prefer to short here. You can also open only if it tested 9100 once again to weaken the support.
SHORT POSITION (BITCOIN)
Set Up *1
Entry Prices: $9150-$9400
Take Profit: $8900-$8350
Stop Loss: $9700
Risk:Reward= 1:2-1:5
Set Up *2
Entry Prices: $9193-$9350
Take Profit: $8900
Stop Loss: $9500
Risk:Reward= 1:1-1:3
High hidden sell momentum, low buy momentum with previous higher high at $9800. Both support and resistance have been retested twice. However with the bearish signs with low buy momentum, low volume, close to triangle's breakouts, I will prefer to short here. You can also open only if it tested 9100 once again to weaken the support.
Trade closed: target reached
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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.