Bitfinex, 30 min candles
1. Sharp move: 34% drop followed by an 18% rise in just a few hours
2. Flagpole: continuous 53 point height
3. Flag: sloping against the previous trend
4. Duration: crypto is quite different from regular markets, so the trend is expected to continue for the next 11 hours
5. Break: already broke the 0.00640 resistance and testing the new 0.00681 resistance
6. Volume: previous breakouts were formed at similar levels of volume
7. Targets: enter after we confirm the 0.00681 BTC level is broken and exit at the top of the next pole at 0.00744 - aiming for 10% quick profit
Stop loss: 0.00640 BTC
Entry: 0.00685 BTC
Take-profit: • target 1: 0.00700 BTC - expected end of the current flag, conservative
• target 2: 0.00744 BTC
Disclaimer: not an investment advice, never invest more than you can lose and always do your own TA!
1. Sharp move: 34% drop followed by an 18% rise in just a few hours
2. Flagpole: continuous 53 point height
3. Flag: sloping against the previous trend
4. Duration: crypto is quite different from regular markets, so the trend is expected to continue for the next 11 hours
5. Break: already broke the 0.00640 resistance and testing the new 0.00681 resistance
6. Volume: previous breakouts were formed at similar levels of volume
7. Targets: enter after we confirm the 0.00681 BTC level is broken and exit at the top of the next pole at 0.00744 - aiming for 10% quick profit
Stop loss: 0.00640 BTC
Entry: 0.00685 BTC
Take-profit: • target 1: 0.00700 BTC - expected end of the current flag, conservative
• target 2: 0.00744 BTC
Disclaimer: not an investment advice, never invest more than you can lose and always do your own TA!
Trade closed: target reached