$BTC/USDT 3D (#Bybit) Symmetrical triangle on resistance

27 Mar 2022

⚡️⚡️ #BTC/USDT ⚡️⚡️
Exchanges: ByBit USDT
Signal Type: Regular (Short)
Leverage: Isolated (2.0X)

Current Price:
46530.5

Entry Zone:
46521.0 - 48866.0

Take-Profit Targets:
1) 40154.5
2) 34475.0
3) 29528.5

Stop Targets:
1) 54002.0

Published By: @Zblaba

Bitcoin is facing 50MA / supply zone where it could be rejected and reverse.

Risk/Reward= 1:1.2 | 1:2.1 | 1:2.88
Expected Profit= +31.62% | +55.44% | +76.18%
Possible Loss= -26.46%

Fib. Retracement= 0.5 | 0.883 | 1.272
Margin Leverage= 2x
Estimated Gain-time= 6 months

Tags: #BTC #BTCUSD #XBT #WBTC #BTCB #Blockchain #PoW #Satoshi

Website: bitcoin.org

Contract:
#Mainnet

1 Nis 2022

İşlem aktif

2/3 entries filled

Bitcoin is being rejected so far, bear in mind this #Hedge set-up would take time to play out!

1 Nis 2022

Not

Bitcoin got rejected on 200MA, we could say it initiated the move down, 50MA retest looks legit!

20 Nis 2022

İşlem kapandı: hedefe ulaştı

Closer TP1 reached with +18.38% (2x) and +0.7R

Bitcoin is facing similar situation so we believe it's better to play safe and secure some profit here!
A bounce back would be logical, TPs and SL (48866.5) edited according to the current situation.

20 Nis 2022

İşlem kapandı: hedefe ulaştı

TP2 was reached with +32.94% (2x) and +1.25R

Bitcoin lost support and went for 2nd target before breaking out of the wedge, we did well adjusting it.

Now facing 50MA resistance, we edited SL to 46521.0 and we see two possible scenarios:
- rejection & retracement down to TP3 then bounce (orange)
- regain support & pump towards desc TL then dump (green)