Scalp
Scalp idea for CAKEIf I can buy on the retest, I can sell on the first TP. If BTC lets, I can wait until it hits TP2
BTCUSD Double Top Short OpportunityHello, everyone! Bitcoin is now in an established downtrend so as far as meaningful movements, we are only looking for shorts.
$BTCUSD is testing a key S/R zone's lower resistance level for the second time, creating a Double Top formation.
MACD Momentum somewhat supports large bear move in the hourly time frames.
Expect to see price reach recent level of support.
Post- Speculation: One price reaches this level expect a 50% pullback (of the size of the trade) at a level of support, then a trend continuation to the downside; looking to hit $42K, another major S/R zone.
Daily btc breakout setup? bitcoinintraday new camarilla levels. L3 to H3 Range floor and ceiling projection. L4 and H4 are stop loss / breakout points. H5 and L5 targets. I am suggesting long here because we opened right on pivot. retrace taken care of. and indicators on low timeframes look potentially primed. Tight stop on L4 though
Retest of broken trend line (rising wedge pattern) bearish (BTC)After rejecting $50,000 and dropping more than $5000 there's a chance it may take a few weeks to break the big psychological resistance level, however there's still the chance this is the dip and now we're headed towards $55,500.
We've seen a relief pump since the drop and I'm expecting more downside after retesting the broken trend line, if $47,222 holds we can discuss long options, but until that happens I've decided to take a bearish scalp from the $48,000 level (give or take)
Will post an attachment to this post when I've closed the trade.
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