Tez8

BTC Short - Failed Break Out & Bear Trend Continuation

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
SUMMARY: Short, BTC has fallen back into the bear trend, under long running resistance line (white and broken line).


Expect another 4-6 weeks of the current trading range and is possible to see a test of the $26k support.


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*Not financial advice and is for educational purposes only. Always DYOR.

Comments

hello can i use my stop loss to 32800 and i use my stop profit to 31550 for Bitcoin?
+2 Reply
Tez8 jangbogo9
@jangbogo9, thanks for the message.

I cannot provide financial advise ie , if you should trade BTC or not.

On a technical basis, we are in a down trend.

When looking at these short price movements.

Bollinger Bands and Stoch RSI are very helpful assess profit targets.

It is not exactly answering your question but I hope that helps you form your decision.
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yes thanks for this 🙏🌹
Reply
whales are gonna snipe you out if you set stop loss there it will dip then pump up and youll lose money and so youll lose capital and be in a impossible position to buy back less you set a buy order at back below your stop or possibly above kinda eliminateing the reason for stop loss. trailing crypto.com is great only 2 apps i need to trade decent. i prefer trailing crytpo .coms tale profit long as target/ limit is met. it acts as your stopp loss and allows for profits to creep as high as you let them . depending on what you set offset percentage at you will sell hopefully at the top within . your percetage
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Tez8 McCoyCRYPTO
@McCoyCRYPTO, I am not sure what your analysis is.

The current market structure is a down trend or bear market.

Are claiming the price action is going up or down from here?
Reply