A short idea for BTC
Güncellendi
This idea is only for those that are bearish over short term and think price is going down to 40,000.
Before price falls, it is likely to spike up taking the buy stops above the equal highs and getting break out traders involved before falling down to 40 ,000. As price fall's it will take out weak buyers that got involved above 40 ,000 and allow smart money to accumulate more buy positions. A 30% drop in price will shake out weak buyers and allow long term buyers to accumulate more.
Previously when price was between 35,000 and 40 ,000 there was profit taking with positions being passed on to other smart money investors, this indicates a price range that smart money is willing to buy at and when price returns here there is likely to be more interest in buying.
Also anyone that got short here previously will also look to close their positions when price returns which will create buying.
Also new buyers that have been waiting patiently will want to enter down here, between 35,000 to 40 ,000. The long term trend is still bullish and over the next couple of years is likely to go up above 80,000.
Entry Idea is 63,400
Stop Loss around 69,000
First take profit 51,400
Final take profit 41,600
Disclaimer: This is for educational purposes only and is not a recommendation to trade with a live account.
Before price falls, it is likely to spike up taking the buy stops above the equal highs and getting break out traders involved before falling down to 40 ,000. As price fall's it will take out weak buyers that got involved above 40 ,000 and allow smart money to accumulate more buy positions. A 30% drop in price will shake out weak buyers and allow long term buyers to accumulate more.
Previously when price was between 35,000 and 40 ,000 there was profit taking with positions being passed on to other smart money investors, this indicates a price range that smart money is willing to buy at and when price returns here there is likely to be more interest in buying.
Also anyone that got short here previously will also look to close their positions when price returns which will create buying.
Also new buyers that have been waiting patiently will want to enter down here, between 35,000 to 40 ,000. The long term trend is still bullish and over the next couple of years is likely to go up above 80,000.
Entry Idea is 63,400
Stop Loss around 69,000
First take profit 51,400
Final take profit 41,600
Disclaimer: This is for educational purposes only and is not a recommendation to trade with a live account.
Yorum
If this is going to reverse its got to reach for the highs one more time better entry is 64,000.Yorum
If this is going to reverse, it has to run the highs one more time above 65,000Yorum
Review: DId not get the reversal push down as expected get out of trade with break even or small profit
Feragatname
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