BTC making a diamond top with a target of $8333.10 making a move down to $34732. that would set BTC back 20% and with the volatility of crypto time is hard to even predict nor do i try.
The diamond bottom played out perfectly with a $17577.08 move up a crazy 94.37% break out move from 10/16/23.
I am going to risk $833.31, my stop loss is at $44450.31 and my take profit is $34732.48. That gives us 10:1 R:R.
We also have a weekly bearish divergence on BTC and DXY has a weekly bullish divergence.
BTC is setting up for a bearish RSI failure swing play on the daily chart. The entry for the faillure swing on the 14 RSI would be when RSI is < 52.84. The 987 minute chart failure swing entry woulf be when the 14 RSI is < 46. The RSI has broken the up tren 3 times al ready and made multiple bearish divergences but has gotten weaker. No need to predict just buy the break or the failure swing. if one happens beore the other its great confirmation and i will personally add to the position.
As always, May the odds be in your favor!
The diamond bottom played out perfectly with a $17577.08 move up a crazy 94.37% break out move from 10/16/23.
I am going to risk $833.31, my stop loss is at $44450.31 and my take profit is $34732.48. That gives us 10:1 R:R.
We also have a weekly bearish divergence on BTC and DXY has a weekly bullish divergence.
BTC is setting up for a bearish RSI failure swing play on the daily chart. The entry for the faillure swing on the 14 RSI would be when RSI is < 52.84. The 987 minute chart failure swing entry woulf be when the 14 RSI is < 46. The RSI has broken the up tren 3 times al ready and made multiple bearish divergences but has gotten weaker. No need to predict just buy the break or the failure swing. if one happens beore the other its great confirmation and i will personally add to the position.
As always, May the odds be in your favor!