#BTC/USDT - Long - Potential 10.06%
BITCOIN/USDT
Direction: Long
Asset: BTCUSDT.P
Entry Zone: 26900 - 26427
Take Profit 1: 27799
Take Profit 2: 29573
Stop-Loss: 26034
Entry Conditions:
Short term break of structure which could see us hit TP1 confirmed but if we close above2688 we should confirm a break in the swing structure which could see a run towards TP2.
Lots of rumours swirling about ETF acceptance which could be a major catalyst.
Stop loss is in there below order block as BTC has been threatening a breakdown all month, extreme weather events have affected power supply in Texas (home of many major BTC miners) so there is an possibility of a sell off to cover shortfall while mining production is low. It was a miner sell off which triggered the august correction however so they may have already created their operating revenue. I'd suggest minimal leverage or spot for this reason.
Direction: Long
Asset: BTCUSDT.P
Entry Zone: 26900 - 26427
Take Profit 1: 27799
Take Profit 2: 29573
Stop-Loss: 26034
Entry Conditions:
Short term break of structure which could see us hit TP1 confirmed but if we close above2688 we should confirm a break in the swing structure which could see a run towards TP2.
Lots of rumours swirling about ETF acceptance which could be a major catalyst.
Stop loss is in there below order block as BTC has been threatening a breakdown all month, extreme weather events have affected power supply in Texas (home of many major BTC miners) so there is an possibility of a sell off to cover shortfall while mining production is low. It was a miner sell off which triggered the august correction however so they may have already created their operating revenue. I'd suggest minimal leverage or spot for this reason.
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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.