BTC short term trade. Multiple charts on log scale,$ 7500 target
Welcome to my fresh track on BTC's path !
After strong slip We could recognize some market's intensions. The main fact is, We entered into strong bear phase. Every time You think about long, You should consider small amounts. Don't ruin my soft precious bet :) It is hot streak. BTC tanked heavy.
That's why it is opportunity for long.Everybody will panic sell to breakout, and it is prooved through median of pitchfork slowly catching sellers.
It won't last long. We need to consider maximum 2 profit targets for best position for short. First TP is the resistance from triangle formation. This could be not enough for real bears, so upper line of pitchfork could be also tested to pour unstable floor and shakeout everyone. Remember that true breaking through extremes of pitchfork would occur in trend marking.
Stop loss under black line, but not so tight - there could also be long stops closing wick :) If You play small amount You could afford more losses
ENTRY: 7064
There is pitchfork and triangle formation derivation on 1D time frame chart shown below:
SMA 50 + SMA 20 compilation as true bear market indicator. There You can see my ideas history on BTC marked with small triangles.
After strong slip We could recognize some market's intensions. The main fact is, We entered into strong bear phase. Every time You think about long, You should consider small amounts. Don't ruin my soft precious bet :) It is hot streak. BTC tanked heavy.
That's why it is opportunity for long.Everybody will panic sell to breakout, and it is prooved through median of pitchfork slowly catching sellers.
It won't last long. We need to consider maximum 2 profit targets for best position for short. First TP is the resistance from triangle formation. This could be not enough for real bears, so upper line of pitchfork could be also tested to pour unstable floor and shakeout everyone. Remember that true breaking through extremes of pitchfork would occur in trend marking.
Stop loss under black line, but not so tight - there could also be long stops closing wick :) If You play small amount You could afford more losses
ENTRY: 7064
There is pitchfork and triangle formation derivation on 1D time frame chart shown below:
SMA 50 + SMA 20 compilation as true bear market indicator. There You can see my ideas history on BTC marked with small triangles.
Catatan
If this candle closes red I would use stop loss under 7000 as mental barrierCatatan
the price coils there, no worries.Inverted H&S still in play.
Catatan
Sometimes obvious things are hiding ...Trade aktif
The price is testing 2 supports:1. Green line as local support, higher lows connected.
2. Pink horizontal at 7025 - There We have incident accompanied by pretty nice volume marked in blue circle. We can see establishment battle there, it is our strategy axis.
Let's see what happens, but I am going to prepare atleast 1 jetpack for me !
Trading ditutup: stop tercapai
stoploss
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.