Bitcoin / TetherUSShort
BTCUSDT short
Updated
In terms of Elliott, 5 rising waves are over and Bitcoin couldn't break the previous ceiling because he hit a strong range.
The strength and weakness of the upward trend: the acceleration of each upward wave is higher than the previous one and the acceleration of each downward wave is slower than the previous one, so the acceleration seems good.
The depth of the first modification is -22, and the depth of the second modification is -20, which is almost equal, and the depth of the last modification is -6%, which is less. The depth of the first projection is +22% and the second one is +2%, which is less and is a sign of weakness.
Bitcoin has shown weakness in breaking his previous ceiling and has not been able to break his previous ceiling so far.
We have a negative divergence in the weekly and daily time frames.
Ichimoku: In the weekly time frame, the price hit the ceiling of the red cloud and turned back, and now we can see a candle with long shadow.
Bitcoin's dominance can have a correction and Tether's dominance can move up to the next ceiling.
The 4-hour candle closed below its range.
The strength and weakness of the upward trend: the acceleration of each upward wave is higher than the previous one and the acceleration of each downward wave is slower than the previous one, so the acceleration seems good.
The depth of the first modification is -22, and the depth of the second modification is -20, which is almost equal, and the depth of the last modification is -6%, which is less. The depth of the first projection is +22% and the second one is +2%, which is less and is a sign of weakness.
Bitcoin has shown weakness in breaking his previous ceiling and has not been able to break his previous ceiling so far.
We have a negative divergence in the weekly and daily time frames.
Ichimoku: In the weekly time frame, the price hit the ceiling of the red cloud and turned back, and now we can see a candle with long shadow.
Bitcoin's dominance can have a correction and Tether's dominance can move up to the next ceiling.
The 4-hour candle closed below its range.
Note
Entry price : 29460$SL price : 30021$
TP1 : 29678$
TP2 : 27455$
Trade active
TP1 : 29678$ (Margin out 60%)tp2 : 28200$ (Margin out 40%)
Trade active
Sorry, I typed wrongTP1 : 28678
Trade closed: target reached
TP1 reached In daily time frame , you can see a trendline that it can rise the price ; because of that now your TP2 have to be trendline price .
Now my SL is 29302$ , but you can risk free
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