Short Position (Swing Trade)
Entry: $42400
Stop Loss: $43800
Take Profit: $38000
Risk : Reward 1 : 3
Leverage: 10x
Analysis:
Is it going to bounce? There is no "in my opinion". Trend is your friend, ignorance is your enemy.
BTC made lower High in daily, weekly and monthly chart. The buying power is reducing. There was no bullish trend at all since the top at $65000. This should be a relaxing trade with 3 times profit vs 1 time risk.
Where is the bottom? Definitely below our previous support at $28000 area. All the best.
Entry: $42400
Stop Loss: $43800
Take Profit: $38000
Risk : Reward 1 : 3
Leverage: 10x
Analysis:
Is it going to bounce? There is no "in my opinion". Trend is your friend, ignorance is your enemy.
BTC made lower High in daily, weekly and monthly chart. The buying power is reducing. There was no bullish trend at all since the top at $65000. This should be a relaxing trade with 3 times profit vs 1 time risk.
Where is the bottom? Definitely below our previous support at $28000 area. All the best.
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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.