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-15+ years experience in markets
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BTCUSD H16: CAN hit 40 000 USD in complex correction(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT because this is a speculative
. correction NOT OVER yet!
🔸 Summary and potential trade setup
::: BTCUSD 16HOUR chart review/outlook
::: MAY/JUNE weak period for bitcoin
::: based on 10 years of data
::: previously compression into
::: broke down / re-tested the structure
::: more downside possible next 4-6 weeks
::: based on measured move projection
::: final TP BEARS is 40 000 USD
::: expect target to get hit in June 2021
::: Bulls should wait for the BEAR structure
::: to complete now, buying near 40 000 USD
::: would be the best strategy
::: however right now BEARS maintain control
::: until we hit 40 000 USD later in June 2021
::: recommended strategy: short sell rips/rallies
::: BULLS get ready to BUY LOW later near 40k
::: longer-term target is still valid for BULLS
::: 70/75K by AUGUST 2021
::: so just sit out the correction now
::: good luck traders!
::: SHORT IT and get paid. period.
🔸 Supply/Demand Zones
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/PULLBACK/40000USD
::: Sentiment outlook short-term: BEARS
Trading Crypto, , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.