BTC broke the EMA Ribbon in most timeframes [SHORT]
Dear Traders,
After breaking the falling wedge today, following by breaking the support of the triangle, it looks like BTC is going to dip further down.The EMA Ribbon was broken on 1H, 2H, 4H Timeframe, which usually is an extremly bad sign and shows a short term trend reversal. The MACD was bearish crossed earlir today and the RSI on weekly still to quite high levels !
Entry point : 35418
Stop Loss: 36341 (2.59% --> 25.9% with 10x leverage)
Leverage : 10x
First take profit : 32650 (7.83% --> 78.3% with 10x leverage)
Second take profit : 30700 (13.27% --> 132.7% with 10x leverage)
Please let mw know your thoughts, make sure to comment, like and follow me !
Have fun trading guys and thanks for reading
After breaking the falling wedge today, following by breaking the support of the triangle, it looks like BTC is going to dip further down.The EMA Ribbon was broken on 1H, 2H, 4H Timeframe, which usually is an extremly bad sign and shows a short term trend reversal. The MACD was bearish crossed earlir today and the RSI on weekly still to quite high levels !
Entry point : 35418
Stop Loss: 36341 (2.59% --> 25.9% with 10x leverage)
Leverage : 10x
First take profit : 32650 (7.83% --> 78.3% with 10x leverage)
Second take profit : 30700 (13.27% --> 132.7% with 10x leverage)
Please let mw know your thoughts, make sure to comment, like and follow me !
Have fun trading guys and thanks for reading
Comment:
Fearing a dead cat bounce, I took the decision to higher up my stop loss.
Comment:
Unfortunately, my scenario did not play out and my stop ended un being touched.
Thank you for reading.
Thank you for reading.