a_propatternfx

Bitcoin for short term bearish after breakout

Short
a_propatternfx Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin last week candle shows bearish momentum and just recently break the triangle pattern. Waiting for the retest for a bearish movement towards major support. Overall is still bullish outlook for bitcoin and now currently waiting for the retracement. In the analysis , it seems that it started to build up a falling wedge pattern and currently looking for its bullish rejection in support. The SR Flip point seems like a very good entry point given it provide a bullish rejection in the area. Bullish projection seems to project price back to its highest level in a long term.
Trade closed: target reached:
Sell trade reach take profit

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.