BTC seems to be in a big falling wedge where it failed to breakout yesterday followed by a decline in price.
After retracing to .786 fib level there could be a possibility for a change in direction.
BUT there are 2 so called square ups, located at the yellow arrows, what are losses for market makers. You can see these square ups as gaps in regular markets, and gaps want to be filled.
Most of the time these square ups are filled quick, so that is my main target. Entries in the green box. The bottom of the green box is also the exact place where the 100 weekly MA is located at this moment.
Stoploss is obvious below the 30-29k support zone.
After retracing to .786 fib level there could be a possibility for a change in direction.
BUT there are 2 so called square ups, located at the yellow arrows, what are losses for market makers. You can see these square ups as gaps in regular markets, and gaps want to be filled.
Most of the time these square ups are filled quick, so that is my main target. Entries in the green box. The bottom of the green box is also the exact place where the 100 weekly MA is located at this moment.
Stoploss is obvious below the 30-29k support zone.
Trade active:
Everything went as planned.
- Price went downinto the green box
- Square ups are cleared
- Entries are taken
- Price broke out of the falling wedge
Targets:
25% 50k
25% 55k
25% 60k
15% 65k
10% beyond ath
- Price went downinto the green box
- Square ups are cleared
- Entries are taken
- Price broke out of the falling wedge
Targets:
25% 50k
25% 55k
25% 60k
15% 65k
10% beyond ath