Bitcoin (BTC/USDT) Short Position!
Hello Cryptonauts,
In the BTC/USDT pair we have the formation of a descending triangle (a continuation pattern). Added to that, we have a bearish flag. Using the flagpole size we can target our short position at ~18541.
The price failed to breakout the smart money level (dashed line), which corroborates our short position. However, we have support at ~19501 so we can start a trailing take profit from the support level if it doesn't break down.
Our stop-loss will be at ~20115 above the pivot level (~20038).
In the BTC/USDT pair we have the formation of a descending triangle (a continuation pattern). Added to that, we have a bearish flag. Using the flagpole size we can target our short position at ~18541.
The price failed to breakout the smart money level (dashed line), which corroborates our short position. However, we have support at ~19501 so we can start a trailing take profit from the support level if it doesn't break down.
Our stop-loss will be at ~20115 above the pivot level (~20038).
Trade closed: target reached
Target has been hit
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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.
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.