My opinions are not financial advice!
Another scythe pattern on BTCUSDT.P is developing on the 15m chart.
For this particular trade, there are two targets to watch:
Another scythe pattern on BTCUSDT.P is developing on the 15m chart.
For this particular trade, there are two targets to watch:
- The 200 EMA will lock in a profit in the event that bull support for
BTCUSDT.P
is still strong, and the price rebounds off of the line.
- The daily L3 pivot is also a likely support zone to watch for, as the previous day's dip closed and rebounded on that price.
Comment:
Ascending triangle on the 5min -- waiting to see breakout direction.
Trade closed: stop reached:
Stop loss was triggered. BTC breaks out in upwards direction because of the ascending triangle.
Trade type: Short
Percent Gain/Loss: -1.5%
Trade type: Short
Percent Gain/Loss: -1.5%
Comment:
False breakout -- Bitcoin correction underway, expected support around 48k.
Comment:
Bitcoin bounced off the support as expected -- the 12Hr L6 pivot and a buy wall, candle low just beneath 48k.
Comment:
Final thoughts: the stop was set too low to account for a false breakout.