$BTCDOM/USDT 4h (Binance Futures) Ascending channel breakdown
Bitcoin Dominance is retesting the resistance and is likely to be rejected here giving Altcoins some relief!
Current Price= 1194.0
Sell Entry = 1193.4 - 1210.0
Take Profit= 1147.3 | 1088.2 | 1047.1
Stop Loss= 1251.3
Risk/Reward= 1:1.1 | 1:2.29 | 1:3.12
Expected Profit= +18.12% | +37.76% | +51.48%
Possible Loss= -16.52%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 4x
Estimated Gain-time= 2 weeks
Current Price= 1194.0
Sell Entry = 1193.4 - 1210.0
Take Profit= 1147.3 | 1088.2 | 1047.1
Stop Loss= 1251.3
Risk/Reward= 1:1.1 | 1:2.29 | 1:3.12
Expected Profit= +18.12% | +37.76% | +51.48%
Possible Loss= -16.52%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 4x
Estimated Gain-time= 2 weeks
Trade active
Both entries filledBitcoinDominance got rejected at first then pulled-back to supply zone again, let's see how that ends.
Note
SL updated up to 1270.1$Probably not the wiser thing to do, but BitcoinDominance index is at ATH so a rejection could take place if Altcoins dare to wake-up!
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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.