$PAXG/BTC 1D (#BinanceMargin) Shooting star on resistance
Updated
Paxos Gold just printed a bearish pattern against Bitcoin on the daily and is retesting it.
RSI looks quite overbought and up-trend is exhausted, reversal seems around the corner!
Current Price= 0.08683
Sell Entry = 0.08685 - 0.09299
Take Profit= 0.07761 | 0.06834 | 0.05907
Stop Loss= 0.10022
Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +27.38% | +48.00% | +68.62%
Possible Loss= -22.90%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 2-3 months
Tags: #PAXG #PAXGBTC #PaxGold #Paxos #Gold #XAU #PreciousMetal
Website: paxos.com/paxgold
RSI looks quite overbought and up-trend is exhausted, reversal seems around the corner!
Current Price= 0.08683
Sell Entry = 0.08685 - 0.09299
Take Profit= 0.07761 | 0.06834 | 0.05907
Stop Loss= 0.10022
Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +27.38% | +48.00% | +68.62%
Possible Loss= -22.90%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 2-3 months
Tags: #PAXG #PAXGBTC #PaxGold #Paxos #Gold #XAU #PreciousMetal
Website: paxos.com/paxgold
Trade closed: stop reached
SL hit with -22.90% (2x) and -1RPaxosGold pushed a bit higher than expected and stop hunted us, too bad since it's back to supply zone.
First target could still play out, if #Gold price stay stable (1833$ right now) that would mean #Bitcoin around 23.6k 🤞🏼
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