JWORRELL
Long

BTCUSDT 30 Descending Channel (70% chance of breaking to upside)

BINANCE:BTCUSDT   Bitcoin / TetherUS
(First published idea)
Just waiting for the breakout.
Had 8 good touches on the trendlines .
RSI is positive.
Looking for good volume .
Target is only $100.

Possible buy-in around 11695.
If there’s a bounce (retest) around 11626 (yellow) can buy more at or near that price.
Depends where you buy, current Stop-Loss around 11579 (red).
That’s 1% below 11695 giving a risk reward ratio of only 1.8.
First take profits maybe 11744 (green).
There is resistance at 11793 (orange) and second take-profits.
If she keeps going up, there is more resistance at 11900 (orange) for final profit-taking.

My feeling is that it will be a weak breakout, but I wanted to publish anyway, as it’s my first public TA.
So tell me what I’ve missed but go easy on me please!

Comments

Thanks for your comment. Need to force myself to publish so that I improve my TA!
Reply
Appreciate your effort!
Thanks mate
Reply
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