$BTCDOM/USDT 12h (Binance Futures) Descending channel breakout
Bitcoin Dominance seems to have broken bullish, let's enter on a pull-back to hedge Altcoins positions.
Current Price= 1020.6
Buy Entry = 1000.8 - 973.80
Take Profit= 1074.6 | 1134.3 | 1215.5
Stop Loss= 937.3
Risk/Reward= 1:1.75 | 1:2.94 | 1:4.56
Expected Profit= +26.52% | +44.67% | +69.33%
Possible Loss= -15.18%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 3x
Estimated Gain-time= 1.5 months
Current Price= 1020.6
Buy Entry = 1000.8 - 973.80
Take Profit= 1074.6 | 1134.3 | 1215.5
Stop Loss= 937.3
Risk/Reward= 1:1.75 | 1:2.94 | 1:4.56
Expected Profit= +26.52% | +44.67% | +69.33%
Possible Loss= -15.18%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 3x
Estimated Gain-time= 1.5 months
Trade active:
First entry filled
Bitcoin Dominance pulled back, now could be a good time to reduce some Altcoins exposure.
Bitcoin Dominance pulled back, now could be a good time to reduce some Altcoins exposure.
Trade closed: target reached:
TP1 reached with +26.52% (3x) and +1.75R
Bitcoin Dominance bounced on 100EMA and regained 200MA, good for that hedge!
But this is bad news for Altcoins against Bitcoin, seems like the king will reign again short-term...
Road to 2nd target now, SL updated to lowest entry (973.8$) in case it reverses.
Bitcoin Dominance bounced on 100EMA and regained 200MA, good for that hedge!
But this is bad news for Altcoins against Bitcoin, seems like the king will reign again short-term...
Road to 2nd target now, SL updated to lowest entry (973.8$) in case it reverses.
Trade closed: target reached:
TP2 reached with +44.67% (3x) and +2.94R
Bitcoin Dominance kept increasing while Bitcoin is making Higher High, what a beast!
Nice profit taken, SL adjusted to first entry now (1000.8$) and let the remaining position run.
Bitcoin Dominance kept increasing while Bitcoin is making Higher High, what a beast!
Nice profit taken, SL adjusted to first entry now (1000.8$) and let the remaining position run.
Trade closed: target reached:
TP3 reached with +69.33% (3x) and +4.56R
BitcoinDominance was definitely the safest thing to trade lately and just made a new ATH since that index launched back in June.
Altcoins still bleeding a lot, we may have avoiding much loss taking that chart more seriously...
Anyway, trade is fully closed now and we'll wait patiently for a new opportunity!
BitcoinDominance was definitely the safest thing to trade lately and just made a new ATH since that index launched back in June.
Altcoins still bleeding a lot, we may have avoiding much loss taking that chart more seriously...
Anyway, trade is fully closed now and we'll wait patiently for a new opportunity!
Bitcoin Dominance bounced nicely as planned, hedging the current correction properly! 👌🏼