BTCUSDT H4 Potential for $700 down move (Low Risk High Reward)

21 Haz 2020

I've labelled the chart so hopefully self explanatory... I see an opportunity for a Bearish move in BTCUSDT on the 4h timeframe. Previous Bearish Rectangle played out so I see no reason why this can't.

Bearish rectangle led into Bearish Pennant which has been playing out since June 11th.

Since then candle has failed to close above the red Stop Loss line.

Previous Breakout attempt but price moved back to Pennant.

Range tightening so break below $9200 is likely which will confirm the move.

Stop loss set for Candle close above Red Stop Loss line.

25 Haz 2020

İşlem aktif

Bears tried to fake us out with the Bart Simpson pattern. Must admit it had me fooled for a second but trade idea is still very much active.

25 Haz 2020

Not

Will watch this trade idea until Friday June 26th when CME Bitcoin Futures Contracts expire. Still see potential for more downward SELL pressure.

27 Haz 2020

İşlem kapandı: hedefe ulaştı

Needs no explanation after Bear fake out. Note to self. Factor fakeouts into future predictions.