BTC bear Cypher
Hello traders,
I d like to share with you few interesting things to watch at BTCUSD in case you are looking to go short. So trying to build a case for entry, we have the following:
- Major resistance zone 4350-4450$
- Bear Cypher pattern with completion point at 4385$
- H4 RSI bearish divergence
Trade setup
Entry : 4385$
Stop loss: 4468$
Target : 4150$
You could also use the traditional targets for cypher patterns which are in our case the 38.2% and 61.8% Fib Retracements of the CD leg, but this would be a worse risk to reward ratio
I d like to share with you few interesting things to watch at BTCUSD in case you are looking to go short. So trying to build a case for entry, we have the following:
- Major resistance zone 4350-4450$
- Bear Cypher pattern with completion point at 4385$
- H4 RSI bearish divergence
Trade setup
Entry : 4385$
Stop loss: 4468$
Target : 4150$
You could also use the traditional targets for cypher patterns which are in our case the 38.2% and 61.8% Fib Retracements of the CD leg, but this would be a worse risk to reward ratio
Transaction en cours
Note
Entry at 4389$. Doji canddle on the H1 timeframe give us a minor reversal confirmation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.