In the coming days, I expect a BTC drawdown on the daily timeframe to values of $96,500 to $95,400 from a price action perspective. I would enter a short position immediately, setting my Stop Loss (SL) above $112,400 and Take Profit (TP) at $96,500, which would represent a 3.44 Risk-Reward Ratio (RRR).
It is important to note that this is in no way financial advice, but merely my personal view on price action and my idea of where the price might go in the coming days.
It is important to note that this is in no way financial advice, but merely my personal view on price action and my idea of where the price might go in the coming days.
Trade active
The price was pushed higher than I expected, but it still holds for me that they will test the 96500-95500$ level.Trade closed: target reached
As I wrote on November 4th, my idea of BTC dropping to the $96,500-$95,500 level has come true.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.