Bitcoin (BTCUSD) just had the first strong drop in quite a while, but this is no surprise, we were expecting this... Here you can see our previous analysis: https://www.tradingview.com/chart/XBTUSD/t4jtKQSS-Bitcoin-XBTUSD-Rising-Wedge-Potential-Fall-Altcoins/
Now, the question is this, how much lower can Bitcoin go?
We are looking mainly at EMA100 on the daily time frame, but EMA50 goes first. I would say our next stop goes at $4680 depending on how the day closes, but this retrace is just starting and it can take a while to fully develop.
Here is our latest Bitcoin (XBTUSD) trade:
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Trade: SHORT XBTUSD
Leverage: 10X
Buy-in: $5400 - $5500
Time Frame: 1D
Targets:
(1) $4970
(2) $4710
(3) $4500
Stop Loss: Close 1D above $5650.
Liq. price: $6029
(Buy-in calculated at $5460)
Profit Potential: 213% ROE
Capital Allocation: <10%.
--------------
Feel free to hit like to show your support.
Where do you think Bitcoin is headed next?
Leave your comments in the comments section below, and remember to hit like.
Namaste.
Now, the question is this, how much lower can Bitcoin go?
We are looking mainly at EMA100 on the daily time frame, but EMA50 goes first. I would say our next stop goes at $4680 depending on how the day closes, but this retrace is just starting and it can take a while to fully develop.
Here is our latest Bitcoin (XBTUSD) trade:
--------------
Trade: SHORT XBTUSD
Leverage: 10X
Buy-in: $5400 - $5500
Time Frame: 1D
Targets:
(1) $4970
(2) $4710
(3) $4500
Stop Loss: Close 1D above $5650.
Liq. price: $6029
(Buy-in calculated at $5460)
Profit Potential: 213% ROE
Capital Allocation: <10%.
--------------
Feel free to hit like to show your support.
Where do you think Bitcoin is headed next?
Leave your comments in the comments section below, and remember to hit like.
Namaste.
Note
Note: The buy-in price for the trade above is already gone, the targets are valid on the way down.Note
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The next red candle for Bitcoin (BTCUSD) will be a lot bigger than the last one, but it will take a few days to show up.Note
We can see a rejection by EMA10 on the bounce, making BTCUSD a little bit more bearish. Our targets are valid and waiting to be hit, great profits potential here:
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🚨 You need PREMIUM trade-numbers to profit from Cryptocurrencies —Best timing & amazing results! 👉 lamatrades.com (Since 2017)
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
Related publications
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.