If you remember Symmetrical Triangle (Post Topic: 🔥 Bitcoin is on Contracting Triangle 🔥 (Road map)🧐), the price was able to break it (Down), and now BTC is running at Range Channel (Between 37680$ and 36070$) for more than 2 days, after it did Pullback to the lower line of our triangle. In this area, we have a Resistance Zone.
Resistance Zone includes Pitchfork's Lines + Yearly Resistance 1 (37678$) + Cluster of Fibs.
Also, I found Rising Wedge Pattern (The wedge broke down) + BigHead and Shoulder Pattern (It has a Divergence (MACD) between Left shoulder with Right shoulder) + SmallHead and Shoulder Pattern (It has a Divergence (MACD) between Left shoulder with Right shoulder).
My Suggestion: we can wait for breaking our Necking lines (to down) ==Triggers
Take profits for Short Positions:
Take Profit 1: 35200$ (Small Head and Shoulder' Target)== Reward to Risk(RR) is Not Suitable❌
Take Profit 2: 33950$ until 33480$ (Big Head and Shoulder's Target+Weekly Support 1)== Reward to Risk(RR) is Well ✅
Take Profit 3: 32500$ until 32380$ (Support Zone)== Reward to Risk(RR) is Perfect ✅✅
Stop Loss: 37520$ (Over Right shoulder of Small Pattern) & 37820$ (Over Right shoulder of Big Pattern).
Do not forget to put Stop loss for your positions (For every position you want to open)
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the 'like' button 🙏😊 & Share it with your friends, Thanks, and Trade safe.
Good luck
Trade closed: target reached
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Take profit 1 touched 👍
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New post 👍
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New post, bitcoin analyze timeframe 4h 👍
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RSI Analyze (BTC), Timeframe daily🕐
Pullback or Fake break 🧐❓
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The new post read it please: Bitcoin Analyze (Technical & Fundamental)!!!