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Alteroc
Jun 11, 2018 12:32 AM

BTC - Bullish divergence at support with RSI oversold TP $7,200 Long

BITMEX:XBT120
Bitcoin / US Dollar IndexBitMEX

Description

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Dear community,

I was looking how far we could short BTC today and I think tomorrow we will see some green candles.

Trade setup:
- Bullish divergence on 1h timeframe
- RSI oversold
- Price at support forming triple bottom

Stop Loss : $6,660
Target profit: $7,200


All the Best from the Crypto Space



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twitter.com/alteroc_trading

Trade closed: stop reached

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Trend AnalysisChart PatternsTechnical IndicatorsBTCBTCUSDxbtBullish DivergenceoversoldrsiBitcoin (Cryptocurrency)
Comments
Talhajin
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Why retracement to 7200$ ?
Alteroc
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@Talhajin, It's the pattern trade for now. retracement to previous high correlated to fibonacci.
At $7,200 I will check indicators and candles and whether take profit are readjust stop loss to ride the wave up.
Alteroc
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@Alteroc, In downtrend always sell the rally ;)
Alteroc
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@Talhajin, 2nd target would be $7,600
Talhajin
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@Alteroc, yes, that is what I"m banking on ... but I"m not sure wave 4 will go that high.
Alteroc
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@Talhajin, Let's see that the fun part of trading :)
Talhajin
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@Alteroc,
Talhajin
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Fun part's gonna get heavy :D
Alteroc
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@Talhajin, yes we are at a crucial crossroad for crypto market
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