BTC/USD: Short-Term SELL. Multi-Timeframe Analysis & Signal
Hi there!
On a BTC/USD H1 chart, there are two patterns being formed:
- A Descending Triangle Pattern, and
- A Descending Trend Channel
Both chart patterns indicate a good opportunity to make quick sell trades with close take-profits.
In addition, the price is more than one standard deviation above the MA(25) on H4,
which means that a reversion to the mean should be expected over the short-term.
The Stochastic oscillator is significantly overbought and indicates a short-term SELL signal as well.
If you’re an intra-day trader - do not miss this opportunity..
Enter SHORT at $4,000 and wait for a 3.5%-4.5% correction downward.
This trade idea is supported by two chart patterns as well as by two technical indicators.
In essence, we’re seeing a ‘healthy correction’ type of pattern now.
To be clear, over the medium-term we still project an uptrend for BTC/USD.
Meanwhile, we undoubtedly expect a short-term CORRECTION downward to form over the next 2-3 days.
Use this correction as an opportunity to make quick short trades with close targets.
Here is the detailed Trade Signal:
The short-term trend on BTC/USD M15-H1: Downward
Recommended action: SELL and wait for a 3-4% correction downward
Entry price: $4,000
Target: $3,800 (in 1-3 days)
Forecasted P&L: +$200 or +5.0% (per 1 Lot).
We recommend using a 1:10 leverage to increase your profits to 40%
Stop-Loss: $4,000 ($-50 or 1.3%)
Risk/Reward Ratio: 4.0x
In this analysis, I combined the application of trend analysis with technical indicators and chart patterns, which allows making accurate predictions.
If you like it and want to receive future updates - Follow me on TradingView.
If you have any questions or suggestions, please write them in comments below, and I’ll respond to you promptly!
Enjoy your trading and make profits!
On a BTC/USD H1 chart, there are two patterns being formed:
- A Descending Triangle Pattern, and
- A Descending Trend Channel
Both chart patterns indicate a good opportunity to make quick sell trades with close take-profits.
In addition, the price is more than one standard deviation above the MA(25) on H4,
which means that a reversion to the mean should be expected over the short-term.
The Stochastic oscillator is significantly overbought and indicates a short-term SELL signal as well.
If you’re an intra-day trader - do not miss this opportunity..
Enter SHORT at $4,000 and wait for a 3.5%-4.5% correction downward.
This trade idea is supported by two chart patterns as well as by two technical indicators.
In essence, we’re seeing a ‘healthy correction’ type of pattern now.
To be clear, over the medium-term we still project an uptrend for BTC/USD.
Meanwhile, we undoubtedly expect a short-term CORRECTION downward to form over the next 2-3 days.
Use this correction as an opportunity to make quick short trades with close targets.
Here is the detailed Trade Signal:
The short-term trend on BTC/USD M15-H1: Downward
Recommended action: SELL and wait for a 3-4% correction downward
Entry price: $4,000
Target: $3,800 (in 1-3 days)
Forecasted P&L: +$200 or +5.0% (per 1 Lot).
We recommend using a 1:10 leverage to increase your profits to 40%
Stop-Loss: $4,000 ($-50 or 1.3%)
Risk/Reward Ratio: 4.0x
In this analysis, I combined the application of trend analysis with technical indicators and chart patterns, which allows making accurate predictions.
If you like it and want to receive future updates - Follow me on TradingView.
If you have any questions or suggestions, please write them in comments below, and I’ll respond to you promptly!
Enjoy your trading and make profits!
Trade closed: target reached:
There were a couple of profitable short traders. The idea is realized!
Check out my recent ideas - there are lots of potentially profitable trades!
Check out my recent ideas - there are lots of potentially profitable trades!
