$BTC/USDT 8h (Binance Futures) Trendlines breakout and retest
Bitcoin swing set-up
Current Price= 46847.68
Buy Entry= 46924.47 - 45928.73
Take Profit= 49993.59 | 54590.56 | 63119.69
Stop Loss= 42845.99
Risk/Reward= 1:1 | 1:2.29 | 1:4.67
Expected Profit= +14.40% | +35.20% | +71.96%
Possible Loss= -14.40%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
Current Price= 46847.68
Buy Entry= 46924.47 - 45928.73
Take Profit= 49993.59 | 54590.56 | 63119.69
Stop Loss= 42845.99
Risk/Reward= 1:1 | 1:2.29 | 1:4.67
Expected Profit= +14.40% | +35.20% | +71.96%
Possible Loss= -14.40%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 2x
Estimated Gain-time= 3 weeks
Trade active
2/3 entries filledBitcoin dipped and bounced as planned so far, this is what I expect it to do this month 🤞🏼
Trade closed: target reached
TP1 reached with +14.40% (2x) and +1RBitcoin bounced on descending support as expected, nice feeling to have caught the dip when many were FUDing...
(FUD= Fear, Uncertainty and Doubt, don't let you drive by that!)
I think bullish continuation is very likely, I am holding position and would be adding if market dips a last time
Trade closed: target reached
TP2 reached with +35.20% (2x) and +2.29RBitcoin went straight up without dipping this time, great profit!
Trade closed: target reached
TP3 reached with +71.96% (2x) and +4.76RBitcoin finally went for last target after some ranging, the trade is closed but that does not mean it should dump.
In fact, I would be looking for a new long if market dips again!
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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.