SevenLuckyStar

speculation trade on BTC after FED result

BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC always got rejection many times and can't breakout easily and 26.400 level on fib 61.8% already got rejection that probably will make the death cat bounce.
the volatility will come on the FED report, and if the break out can't happen again / make a fake out.
SHORT from 26.200 level
SL = 26.400 - 26.500
TP on
step 1 --> 25.300
step 2 --> 24.500
step 3 --> 23.300
step 4 --> 21.800

and if the Bulls going stronger and the breakout happen, we can play on the confirmation on the 4H
open order on 26.400
SL = 25.900
TP 1 = 27.200
TP 2 = 28.000
TP 3 = 29.600
TP 4 = 31.300

if analysis with elliot wave, if bulls happen ABC down theory already complish, and wave 1 is start it and the bulls will end in 40K from fib 1.618
Trade closed: target reached:
TP Short step 1 is reached. probably step 2 will got it and would pull back to test 61,8% at 26.400, and if got rejection it would death cat bounce to step 3
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.