BTC/USDT - Short Trade Setup
Updated
Greetings!
As we all been witness to the past bullish week for the crypto market I think that it is time for the bulls to take a breath, as every impulse needs a correction before continuation. As they say, what goes up, must come down.
In this case I am expecting a consolidation towards the 4H demand zone highlighted on the chart before resuming the uptrend.
As you can see, the price hit an important supply area around the 21.5k level and got rejected. Right now I am focusing on a short-term trade setup that can pus the price towards the 19k level.
Trade details:
Entry: 20800
SL: 21290
TP: 19000
RR: 1:4
Risk: 1% account balance
Disclaimer: This is not a trading signal or financial advice. It is only a potential trade that I'm looking at. I encourage you to always do your own diligence and not jump in blindly.
As we all been witness to the past bullish week for the crypto market I think that it is time for the bulls to take a breath, as every impulse needs a correction before continuation. As they say, what goes up, must come down.
In this case I am expecting a consolidation towards the 4H demand zone highlighted on the chart before resuming the uptrend.
As you can see, the price hit an important supply area around the 21.5k level and got rejected. Right now I am focusing on a short-term trade setup that can pus the price towards the 19k level.
Trade details:
Entry: 20800
SL: 21290
TP: 19000
RR: 1:4
Risk: 1% account balance
Disclaimer: This is not a trading signal or financial advice. It is only a potential trade that I'm looking at. I encourage you to always do your own diligence and not jump in blindly.
Trade active
Trade details:Entry: 20800
SL: 21290
TP: 19000
RR: 1:4
Risk: 1% account balance
Trade closed: stop reached
SL got hit.
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