BTCDOMUST.P trade ideas
Black Friday Pattern!Wassup, wolves🔥
There is a ready to trade formation for you!
The price is slightly falling on a bigger frame.
It could be a good signal for bear-traders.
According to Elliott Waves theory all the waves are done and now the price is heading to the breakout.
However do not rush the trade and look for breakout.
There was a bearish fakeour already.
Follow the chart and look for the best price to enter carefully.
According to the situation on the market we do not predict price direction, we should react according to the breakout.
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And always remember: "we don't predict, we react".
BTCDOM (binance) to a new ATH?Why do I think it is good to long DOM?
1. Pump is much stronger than the dump.
2. DOM is testing the 0.236 of Fibo, tested for two times already!
3. Going to make an entry once the 1D chart closes above 1115.8 which the 0.236 of Fibo.
4. I will target 0.786 within a month or two. (1331.8 USD)
5. Before my target BTCDOM might consolidate at the 0.5 golden ratio zone. which I marked a red box before 1331.8.
Cheers guys!
$BTCDOM/USDT 3h (Binance Futures) Falling wedge break and retestBitcoin Dominance index seems to be reversing while Bitcoin is trying to make new All Time High.
Current Price= 1072.4
Buy Entry = 1066.0 - 1049.2
Take Profit= 1111.9 | 1170.6 | 1240.1
Stop Loss= 1012.2
Risk/Reward= 1:1.2 | 1:2.49 | 1:4.02
Expected Profit= +20.52% | +42.72% | +69.04%
Possible Loss= -17.16%
Fib. Retracement= 0.382 | 0.618 | 0.883
Margin Leverage= 4x
Estimated Gain-time= 3 weeks