Timeframe: 240M
Main Scenario: The rate should resume the bearish momentum after the breakdown below the outside sliding line (SL). The rate has failed to stabilize above the lower median line (LML), so the perspective is bearish on the short term. It remains to see what will really happen because the rate could turn to the upside again and could try to test and retest the SL before will drop further.
Alternative Scenario: It could bounce back and could increase only if the Bitcoin will increase on the short term.
Entry/Stop Loss/ Take Profit: You can go short after a valid breakdown below the 0.02530203 level, from 0.02524263 level. The Stop Loss could be placed at 0.02696639 and the Take Profit at 0.02178104 level.
Duration: 1-2 days
Consolidation/Ratification level: You can drag the Stop Loss below the opening price if the rate will drop and close below the former lows.
Warning Level: A false breakdown below the 0.02530203 level, it could invalidate a further drop.
Risk Management: Risk/Reward Ratio: 2.01
Main Scenario: The rate should resume the bearish momentum after the breakdown below the outside sliding line (SL). The rate has failed to stabilize above the lower median line (LML), so the perspective is bearish on the short term. It remains to see what will really happen because the rate could turn to the upside again and could try to test and retest the SL before will drop further.
Alternative Scenario: It could bounce back and could increase only if the Bitcoin will increase on the short term.
Entry/Stop Loss/ Take Profit: You can go short after a valid breakdown below the 0.02530203 level, from 0.02524263 level. The Stop Loss could be placed at 0.02696639 and the Take Profit at 0.02178104 level.
Duration: 1-2 days
Consolidation/Ratification level: You can drag the Stop Loss below the opening price if the rate will drop and close below the former lows.
Warning Level: A false breakdown below the 0.02530203 level, it could invalidate a further drop.
Risk Management: Risk/Reward Ratio: 2.01