Hello Future Millionaires!
I created this setup for a retrace back down to the 0.618 Fibonacci from the recent impulse wave up.
If BTC closes below the ascending triangle, then the measured move should take us down to support at the bottom of the range.
If the support zone around 10950 fails, then 10,500 is the next target, then 10280 is the final target.
This setup is active after closing a candle below the ascending triangle support line. We will likely see a bounce around the 11K, 10.5K, and 10K support zones.
Have a great day!
---
Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.
-The purple lines are support/resistance.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier lines are typically smaller time frame trends and patterns (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
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Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Entry: 11600.0
Entry Zone: 11788-11471
T1: 11,435
T2: 11,200
T3: 10,950
T4: 10,805
T5: 10,625
T6: 10,420
T7: 10280.0
Stop: 11988.0
--
R:R: 3.4
Risk: 3.34%
Reward: 11.38%
Leverage: 7X
Leveraged Risk: 23.38%
Leveraged Reward: 79.66
Risk Assessment: HIGH
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
I created this setup for a retrace back down to the 0.618 Fibonacci from the recent impulse wave up.
If BTC closes below the ascending triangle, then the measured move should take us down to support at the bottom of the range.
If the support zone around 10950 fails, then 10,500 is the next target, then 10280 is the final target.
This setup is active after closing a candle below the ascending triangle support line. We will likely see a bounce around the 11K, 10.5K, and 10K support zones.
Have a great day!
---
Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.
-The purple lines are support/resistance.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier lines are typically smaller time frame trends and patterns (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Entry: 11600.0
Entry Zone: 11788-11471
T1: 11,435
T2: 11,200
T3: 10,950
T4: 10,805
T5: 10,625
T6: 10,420
T7: 10280.0
Stop: 11988.0
--
R:R: 3.4
Risk: 3.34%
Reward: 11.38%
Leverage: 7X
Leveraged Risk: 23.38%
Leveraged Reward: 79.66
Risk Assessment: HIGH
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
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