Risky short on BLZUSDT
Rising wedge forming on BLZUSDT. It is potentially topping out in the coming hours / days.
Two scenarios I'm personally watching here:
1) We break the lower trend line of the rising wedge. First TP area would then be around 10 cents, second TP around 8 cents. Keep a small percentage open if it completely collapses to the downside (around 6 cents).
2) We keep pushing higher and take liquidity between 17 and 20 cents. If there is a big wick forming to the downside, this might be an ideal short opportunity.
Keep in mind this is an incredibly risky play. Manage your risk carefully.
Two scenarios I'm personally watching here:
1) We break the lower trend line of the rising wedge. First TP area would then be around 10 cents, second TP around 8 cents. Keep a small percentage open if it completely collapses to the downside (around 6 cents).
2) We keep pushing higher and take liquidity between 17 and 20 cents. If there is a big wick forming to the downside, this might be an ideal short opportunity.
Keep in mind this is an incredibly risky play. Manage your risk carefully.
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.