16/5 BTCUSDT Mid-Term

As mentioned in previous idea that we are hoping a strong bounce will be formed in 26K and back to 32k or even higher.
But since the last trend has been rejected.
So we can consider the large timeframe of Bear Flag is still valid that a 2nd round dumping will start soon.

As we can see the BTC has break the trendline and try to reach but failed.
we can see if BTC can get back on track then this position will not be valid. but else this suggestion will be made.

Trend: Bull Trend rejected
Position: Short Now <30K
SL: 30.4K
TP:
1/ 28.6K
2/ 26.9 - 26.6K (Previous Low)
3/ 24K (2.618 Fibo)

Not

Little Edit:
if BTC reached 30179 and rejected, it definitely rejected the bull trend and start falling.
will see if it is possible to reach there.
so if you want to play safe, you can set your position there.

Not

already reached, the 30179 and rejected.
Enjoy the bear ride

Not

dont try to move forward your SL yet. keep it at 30.4 at less and 1Hour Lower-High was formed.

Not

I may suggest to close this position first.
better look for a more suitable entry.

Not

But if you are open at around 30179, you can keep it and see it reach 30350 or not.
30350 is a confluence fibo that might have a strong resistance.

Not

CL as we can see BTC is still playing range.

Not

This is a lesson for me that I have set the position so early causing this profit couldnt be made.

CHRIS_Crypt

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.