BTC is currently sitting near 10k. If it breaks under 10k, this would validate the descending broadening wedge. Looking to short to 8.9k and then enter a long position to 11.2k
Trade 1 - Short
Entry - 9965.7
TP1 - 9603
TP2 - 9049.8
Stoploss - 10410
Trade 1 - Long
Entry - 8963.7
TP1 - 9863.7
TP2 - 11129
Stoploss - 8285.5
Trade 1 - Short
Entry - 9965.7
TP1 - 9603
TP2 - 9049.8
Stoploss - 10410
Trade 1 - Long
Entry - 8963.7
TP1 - 9863.7
TP2 - 11129
Stoploss - 8285.5
Trade active:
10k broken, trade active
10k broken, trade active
Comment:
Trade update - Bitcoin failed to break out of the descending broadening wedge, thus another touch of the bottom trendline is required. Target is 8.9k
Trade update - Bitcoin failed to break out of the descending broadening wedge, thus another touch of the bottom trendline is required. Target is 8.9k
Comment:
This is another scenario which I see possible, I will update the long side of the trade to possibly get a better entry depending on price action at around the 9k level
This is another scenario which I see possible, I will update the long side of the trade to possibly get a better entry depending on price action at around the 9k level
Comment:
s3.amazonaws.com/tra...shots/a/AJI34NpA.png
Well it looks like this scenario tried to play out however was rejected at 10,500 and is now on it's way down. I will have to be more generous with my stops in future, however I do see the second half of the trade playing out.
Well it looks like this scenario tried to play out however was rejected at 10,500 and is now on it's way down. I will have to be more generous with my stops in future, however I do see the second half of the trade playing out.
This is another possibility however I will not be trading this