Btc just printed an ascending triangle pattern in 4 time frame witch is a bullish pattern. The small problem is the point that i broke the lower trend line and is currently retesting it.
According to my strategy this is a strong bearish sign and it might be a good idea to enter a short trade now at the level 30k-30.5k but this is a little bit risky level to entry.
The safest entry is in the confirmation when if the possibility arrives the price crosses down the pullback level.
I will enter a trade now 30000-30500 with stop loss at 30960 and take profits 28600, 27000 and 26000. At 29200 i will set the stop to entry.
If you enter the trade and it goes well i recommend you to use the new Binance futures feature called trailing stop and set the activation price at 26000 with reduce only using a callback rate of 3% to catch all the possible downward move.
Only pure technical analysis and my opinion not a financial advice, do always your own research and never risk more than 1% of your account in a single trade.
Regards and happy trading.
According to my strategy this is a strong bearish sign and it might be a good idea to enter a short trade now at the level 30k-30.5k but this is a little bit risky level to entry.
The safest entry is in the confirmation when if the possibility arrives the price crosses down the pullback level.
I will enter a trade now 30000-30500 with stop loss at 30960 and take profits 28600, 27000 and 26000. At 29200 i will set the stop to entry.
If you enter the trade and it goes well i recommend you to use the new Binance futures feature called trailing stop and set the activation price at 26000 with reduce only using a callback rate of 3% to catch all the possible downward move.
Only pure technical analysis and my opinion not a financial advice, do always your own research and never risk more than 1% of your account in a single trade.
Regards and happy trading.
Trade closed manually:
Closed at entry breakout not confirmed