Play on rejection of 200-day EMA after bulls fail to break the downtrend with tight stop loss.
Entry: 41,000
Stop Loss: 44,000
Target Price #1: 35,000
Target Price #2: 30,000
Target Price #3: 25,000
At each price target move stop loss to 10% over target value.
Reasoning:
First dip below 200-day EMA of the bull run. Sharp rejection possible.
Potential...
There's similar ones out there to this. I changed the commonly used 100 to 128 since I've found it more in tune with BTCUSD
I also have the colors:
Gray for the 20 MA
Blue for the 50
Lime for the 128
Red for the 200
Stock is SMA, If you prefer to use Exponential you can check the box in the settings
...I more often use the SMA
The bulls need a breather after that exciting run and have been stopped at least temporsrily in their tracks when the 200 EMA(in orange) closed the gate on them....Now that the bulls have had a taste, their hunger is probably running wild and they may very well be able to burst through the 200EMA gate and just above it the 200 SMA wall as well when they retest...
