BTCUSDT - Power Breakout - H1
After that last horrible sell off Bitcoin looks ready for another dump. The setup in play here is a Power Breakout, that ocurrs when the SMA 20 pressures the price out of a range. In this case a bearish movement, as Entry, Targets and Stop we can look for those below:
Entry - $44,412.02
Stop - $47,544.93
T1- $42,475.88
T2- $41,279.11 (Most likely to be hit)
T3- $39,342.97
T4 - $38,146.11
T5- $36,210.06
T6 - $35,013.29
T7- $33,077.15
T8 - $29,944.24
Thank you for reading.
Entry - $44,412.02
Stop - $47,544.93
T1- $42,475.88
T2- $41,279.11 (Most likely to be hit)
T3- $39,342.97
T4 - $38,146.11
T5- $36,210.06
T6 - $35,013.29
T7- $33,077.15
T8 - $29,944.24
Thank you for reading.
Note
For a more conservative entry, would wait to an H1 candle close below the entry price, with some volume, then wait for a retest on the entry. Please choose your risk profile properly.
Note
Finally a proper breakout
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