Bitcoin 3H
Updated
BTCUSDTBTCUSDThe prior prediction about bitcoin's downward trend came true (like it always does:-)).
There is a chance that the price will fall to the level of 28020 and the red rectangle owing to the breakdown of the daily uptrend line.
There are two possible outcomes for Bitcoin:
First, the risk of a price decrease increases if the candle falls below the specified trend line for the next few hours in daily time (daily candle).
- The best entry point for short position is above line 28849, in the middle red rectangle.
- For a short trade, the best stop-loss level is above 30695.
The second scenario is that the candle closes below the indicated trend line for a few hours, but the 4H candle closes above 29220 after the Daily candle closes.
There is a chance of falling in that circumstance, but the likelihood of a pullback to the trend line is higher.
- For the long position, the best entry point is above 29220 and in the middle red rectangle.
- For the long position, the appropriate stop-loss is also below the level of 28849.
Please remember to support, like, and share the ideas if you find them useful.
Thanks!
CrazyS.
Trade closed: target reached
Target fully achieved.
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