trendspassmeby
Short

Close to a bottom now on the Hourly

BINANCE:BTCUSDT   Bitcoin / TetherUS
8400-8520 is looking likely to be the floor after the slow grind down, now expecting an increase in price over the weekend and into Monday targeting 9000-9200 area before turning around again to test 8000
Comment: Could top out $9600 but that move would be from fomo and exhaustive. Price moves would spike up and back down rapidly if it got that high imo.
Trade active: Ive now entered trade after what seems to be double bottom W on the hourly chart Friday. So my trade is Long Entry 8475, SL 8375, TP 9000 but look to take some profits 8800 and increase SL accordingly.
Comment: Ive identified a falling wedge pattern on the 15 minute chart which is bullish and gives me a tighter Stop Loss, SL is now 8440 (-35 max loss). As I write this its just breaking through the top so all good.

Comments

What are your views now?
Reply
@Its_Me_Fx, I’m hoping for a close of 8550 on the hourly at the moment, then I’ll be more confident we have our short term bottom. Until then the bears are beating the bulls back down with a stick every time.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out