Dear Friends! On BTCUSDT we can see that for couple of times already the price could not anymore touch the top of the channel it was trading in. This means that the supply is increasing and demand is decreasing and this is forming a descending triangle pattern on chart. The demand will eventually be depleted at the 28600 resistance therefore we can expect the price to freefall from there on to 27000$ because there will be no demand left so it is a freefall and then possibly to 21000$ in the next 1-3 days.
sell at 28600$
stop loss at 29500$
1st profit target 27000$ risk & reward ratio 1:2
2nd profit target 21000$ risk & reward ratio 1:10
once price reaches 1st profit target then either take profit or set the stop loss to break-even at 28600$
Happy Trading!
sell at 28600$
stop loss at 29500$
1st profit target 27000$ risk & reward ratio 1:2
2nd profit target 21000$ risk & reward ratio 1:10
once price reaches 1st profit target then either take profit or set the stop loss to break-even at 28600$
Happy Trading!
Trade active:
sell entry point reached at 28600$
Trade closed: stop reached