BTCUSD is looking bearish on 4 hour chart forming lower highs and lower lows. Expecting the price to continue the downtrend.
Trade Plan:
1) Bearish trend continuation - Series of lower highs and lower lows formation
2) No RSI divergence recorded
3) Entry at Fib .382 level (as price might continue the downtrend and not reach resistance trend line)
4) Stop loss at last lower high (move stop loss to entry level after TP1 hit)
Trade Plan:
1) Bearish trend continuation - Series of lower highs and lower lows formation
2) No RSI divergence recorded
3) Entry at Fib .382 level (as price might continue the downtrend and not reach resistance trend line)
4) Stop loss at last lower high (move stop loss to entry level after TP1 hit)
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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.
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.