fto935x

BTC Short - Rising wedge - Target 34k

Short
BINANCE:BTCUSDTPERP   Bitcoin / TetherUS PERPETUAL FUTURES
Rising wedge was formed in 15m a while ago. We're not at the 3rd touch of the bottom, which often means breakout.
Target for this wedge would be .618 fib = 33900 ish (I would TP @ 34k to keep it safe).

Now retesting the bottom of the wedge (channel).

Trade safely!
Trade active: Retested the channel (wedge) in 15m and got rejected.
Probably gonna retest it again in higher TF, we will see. But thats another bearish confluence for now.

Comment: Just realized that actual target would be more toward 33 500 than 34k, but still 33900-34000 (.618fib) is a safer bet.


just wanted to share update.

Comments

thank you for your time and updates!
+1 Reply
fto935x IncognitoDude
@IncognitoDude, Thank you! I was wrong on this one tho, but risk management is everything in trading! Appreciate the kind words, have a great one!
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Hey, could you show how you drew the fib here?
Reply
fto935x eggdon
@eggdon, im sorry i saw your comment too late, but ill show it better next time. Have a great one!
Reply
eggdon fto935x
@fto935x, No worries at all! Thank you for these charts :)
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fto935x eggdon
@eggdon, Always a pleasure! Just posted my targets (short) for XRP, BTC and ETH! Feel free to like and comment :)

Cheers!
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