BTC | Short H4 | Market Exec |Crypto Toppish For Now
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on H4 time-frame
- Price action is close to a Resistance Trendline
- Price action is close to a 200 EMA (still bearish for now)
- Price action is in a consolidation zone
- Targeting the 61.8% Fibo retracement
Fundamental Confluences for Trade:
- Nothing new in the Crypto space to start any new hype to enter the market
- Crypto ETF craze has passed; wait for the next one maybe for ETH
Suggested Trade:
Entry @ Area of Interest 62,700 - 65,300
SL @ 68,042
TP 1 @ 59,200 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 53,685
Risk-to-Reward @ Approx. 2.27 (Depending on Entry Level)
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Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
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- Stochastics are in Overbought Conditions on H4 time-frame
- Price action is close to a Resistance Trendline
- Price action is close to a 200 EMA (still bearish for now)
- Price action is in a consolidation zone
- Targeting the 61.8% Fibo retracement
Fundamental Confluences for Trade:
- Nothing new in the Crypto space to start any new hype to enter the market
- Crypto ETF craze has passed; wait for the next one maybe for ETH
Suggested Trade:
Entry @ Area of Interest 62,700 - 65,300
SL @ 68,042
TP 1 @ 59,200 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 53,685
Risk-to-Reward @ Approx. 2.27 (Depending on Entry Level)
________________________________
Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
________________________________
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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.