TRBUSD - 29% Short Opportunity or 20% Long Opportunity
My opinions are not financial advice!
Potential short opportunity on
TRBUSDT.P
1H timeframe. BTCUSD is currently in a breakout -- altcoin short opportunities will likely rely on a Bitcoin retracement or correction back to mid-40k levels.
If Bitcoin does not retrace, the top yellow trend line for
TRBUSDT.P
will likely become a support line instead for a 23% long opportunity.
If Bitcoin does retrace,
TRBUSDT.P
will bounce off of the top yellow trend line for a 29% short opportunity. A short opportunity is more likely as RSI(14) is oversold.
Short target set based on (relatively) linear regression channel and weekly Camarilla L3 pivot. Short stop set near 41.5 resistance/support level and accounts for 1:3 risk/reward ratio.
Long target set based on (relatively) linear regression channel and weekly Camarilla H4 pivot. Long stop set just below a consolidation channel and accounts for 1:3 risk/reward ratio.
You can hedge your position to include both long and short.
Potential short opportunity on
TRBUSDT.P
1H timeframe. BTCUSD is currently in a breakout -- altcoin short opportunities will likely rely on a Bitcoin retracement or correction back to mid-40k levels. If Bitcoin does not retrace, the top yellow trend line for
TRBUSDT.P
will likely become a support line instead for a 23% long opportunity. If Bitcoin does retrace,
TRBUSDT.P
will bounce off of the top yellow trend line for a 29% short opportunity. A short opportunity is more likely as RSI(14) is oversold. Short target set based on (relatively) linear regression channel and weekly Camarilla L3 pivot. Short stop set near 41.5 resistance/support level and accounts for 1:3 risk/reward ratio.
Long target set based on (relatively) linear regression channel and weekly Camarilla H4 pivot. Long stop set just below a consolidation channel and accounts for 1:3 risk/reward ratio.
You can hedge your position to include both long and short.
Commentaire:
Edit: A short opportunity is more likely as the RSI is overBOUGHT, not oversold. Apologies for the error.
Commentaire:
Price hit resistance band (top yellow trend line), take desired position here