BTCUSD - Retracement to 55k, Imminent Correction?
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My opinions are not financial advice!
Another scythe pattern on
BTCUSDT is developing on the 15m chart.
For this particular trade, there are two targets to watch:
A continuing bearish divergence on the RSI indicates that a retracement is likely, and a correction may be imminent.
Another scythe pattern on
BTCUSDT is developing on the 15m chart.For this particular trade, there are two targets to watch:
- The 200 EMA will lock in a profit in the event that bull support for BTC is still strong, and the price rebounds off of the line.
- The daily L3 pivot is also a likely support zone to watch for, as the previous day's dip closed and rebounded on that price.
A continuing bearish divergence on the RSI indicates that a retracement is likely, and a correction may be imminent.
Commentaire
Ascending triangle on the 5min -- waiting to see breakout direction.Trade fermée: ordre d’arrêt atteint
Stop loss was triggered. BTC breaks out in upwards direction because of the ascending triangle.Trade type: Short
Percent Gain/Loss: -1.5%
Commentaire
False breakout -- Bitcoin correction underway, expected support around 48k.Commentaire
Bitcoin bounced off the support as expected -- the 12Hr L6 pivot and a buy wall, candle low just beneath 48k.Commentaire
Final thoughts: the stop was set too low to account for a false breakout.
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