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ProjectSyndicate
May 19, 2021 11:39 AM

BTCUSD D1: CAN hit 30 000 USD in complex correction(UPDATED) Short

Bitcoin / TetherUSBinance

Description

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BTCUSD D1: CAN hit 30 000 USD in complex correction(SL/TP)(UPDATED)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT because this is a speculative
BEARISH pattern . correction NOT OVER yet!
click play to recap previous update.
my target was 30 000 USD, already hit.



🔸 Summary and potential trade setup
::: BTCUSD daily chart review/outlook
::: MAY/JUNE weak period for bitcoin
::: based on 10 years of data
::: previously compression into rising wedge
::: broke down / re-tested the structure
::: more downside possible next 4-6 weeks
::: based on measured move projection
::: final TP BEARS is 30 000 USD
::: already 40% OFF the HIGHS
::: broke 50K USD and broke 40K USD
::: expect target to get hit in June 2021
::: Bulls should wait for the BEAR structure
::: to complete now, buying near 30 000 USD
::: would be the best strategy
::: however right now BEARS maintain control
::: until we hit 30 000 USD later in June 2021
::: recommended strategy: short sell rips/rallies
::: BULLS get ready to BUY LOW later near 30k
::: so just sit out the correction now
::: good luck traders!
::: SHORT IT and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/PULLBACK/30000USD
::: Sentiment outlook short-term: BEARS

RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

Trade closed: target reached

30 000 USD TARGET HIT ALREADY. STAY TUNED FOR UPDATES.
Comments
ProjectSyndicate
30 000 USD TARGET HIT ALREADY. STAY TUNED FOR UPDATES.
Yugii
@ProjectSyndicate, We're waiting..Got out before the drop.

Any idea on next movement..don't want to miss any upside potentially
Tim1356
does it hit 20000?
Coindatahouse
@Tim1356, i think so too, lot of traders are speculating a move to 18k-20k as final correction sometime in next 1-6 weeks
Evh84
Thank you for the great analysis! BTC hit 31000, so we can expect more downside right?
TradingOn
And it did right away, well done!
ProjectSyndicate
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InkyGrip
nice chart! thanks! 🦐
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