$BTC/USDT 1h (Binance Fut.) Ascending channel breakdown & retest
Bitcoin could retrace down locally, probably after pulling back up to 50MA resistance.
Current Price= 63140.39
Sell Entry = 63939.62 - 64765.80
Take Profit= 61902.06 | 59785.51 | 57978.56
Stop Loss= 66321.10
Risk/Reward= 1:1.25 | 1:2.32 | 1:3.24
Expected Profit= +19.05% | +35.50% | +49.55%
Possible Loss= -15.30%
Fib. Retracement= 0.618 | 0.883 | 1.117
Margin Leverage= 5x
Estimated Gain-time= 1 week
Current Price= 63140.39
Sell Entry = 63939.62 - 64765.80
Take Profit= 61902.06 | 59785.51 | 57978.56
Stop Loss= 66321.10
Risk/Reward= 1:1.25 | 1:2.32 | 1:3.24
Expected Profit= +19.05% | +35.50% | +49.55%
Possible Loss= -15.30%
Fib. Retracement= 0.618 | 0.883 | 1.117
Margin Leverage= 5x
Estimated Gain-time= 1 week
Note
TP1 would have been hit with up to +18.25% (5x)Bitcoin retracing down as planned, unfortunately entry was missed by 143.42$, a bit frustrating we must say!
Note
TP2 would have been hit with up to +35.50% (5x)Bitcoin kept going down slowly, if you were in time to take some partial profit.
Order cancelled
TP3 would have been reached with up to +46.50% (5x)Bitcoin retraced as anticipated, unluckily entry was missed twice by almost nothing.
At least bias was correct, time to cancel and move on to the next trade!
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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.