BTC target for short-term longs

Bitcoin broke up this triangle📐 and I think there is chance for run to 40600. I did buy the initial breakout but one can set BUY LIMIT order to catch the possible pullback. Zoom out to see the whole white downtrendline. Nice confluence of targets - strong resistance expected.

• ENTRY: local high @ 38780
  
• STOPLOSS (SL): local low @ 38340
  
• TARGET (TP): height of the triangle projected from midpoint of the local range (BUY LIMIT - SL) @ 40600
  
• REWARD RISK RATIO (RRR): 4.1
  
• INVALIDATION: when SL level hit
  

Check my other stuff in related ideas.

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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.

Yorum:

See the bigger picture here:

İşlem aktif:

Order filled ✔️

İşlem kapandı: durdurma seviyesi:

Stoploss hit 🛑
The white downtrendline resistance sent the price down. Trade didn't make it to the target.