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ProjectSyndicate
May 13, 2021 7:40 AM

BTCUSD H16: CAN hit 40 000 USD in complex correction(SL/TP)(NEW) Short

Bitcoin / United States DollarCoinbase

Description

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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
BEARISH pattern . 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 rising wedge
::: 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
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/PULLBACK/40000USD
::: Sentiment outlook short-term: BEARS

RISK DISCLAIMER:
Trading Crypto, Futures , 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.
Comments
Crysmasis
You first say it will touch 75k then 40k now? Playing lottery?
thinkerdoertalker
Another great chart. Super thanks!
rb675
Thanks
Nice work.as always
ProjectSyndicate
DNTUSD H16: 50%+ gains BEST level TO SHORT/HOLD(SL/TP)(NEW)
MMBTtrader
such great job as always

we had same idea before this fall too :


thanks for sharing
ProjectSyndicate
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