BTC target for short-term longs
Bitcoin broke up this triangle📐 and I think there is chance for run to 40600. I did buy the initial breakout but one can set BUY LIMIT order to catch the possible pullback. Zoom out to see the whole white downtrendline. Nice confluence of targets - strong resistance expected.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
- ENTRY: local high @ 38780
- STOPLOSS (SL): local low @ 38340
- TARGET (TP): height of the triangle projected from midpoint of the local range (BUY LIMIT - SL) @ 40600
- REWARD RISK RATIO (RRR): 4.1
- INVALIDATION: when SL level hit
Check my other stuff in related ideas.
Please like👍, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Note
See the bigger picture here:
Trade active
Order filled ✔️Trade closed: stop reached
Stoploss hit 🛑The white downtrendline resistance sent the price down. Trade didn't make it to the target.
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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.