$DEFI/USDT 4h (Binance Futures) Rising wedge on resistance

Jul 7, 2021

DeFi Index is likely to reverse here if gets rejected on that supply zone.

Current Price= 1761.7
Sell Entry= 1758.4 - 1810.2
Take Profit= 1587.4 | 1477.2 | 1314.6
Stop Loss= 1942.4

Risk/Reward= 1:41.25 | 1:1.94 | 1:2.97
Expected Profit= +22.08% | +34.42% | +52.64%
Possible Loss= -17.72%

Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 2x
Estimated Gain-time= 10 days

Jul 8, 2021

Trade closed: target reached

TP1 reached with +22.08% (2x) and +1.25R

DeFi got rejected on resistance as planned then went down retesting 50MA support.
The rising wedge is still intact so this does not look too bearish (yet), SL updated at 2nd entry in any case (1810.2$).

Jul 12, 2021

Note

Rising wedge broke-down

DeFi index tried to bounce several times but could not stay above 50MA, it's now retesting 200MA.
It could bounce here but we are holding short since if support is lost then road to 2nd target!

Jul 14, 2021

Trade closed: target reached

TP2 reached with +34.42% (2x) and +1.94R

DeFi lost 200MA support as expected, waiting for last target now with SL moved to 1st entry (1758.4$)

Jul 19, 2021

Trade closed: target reached

TP3 reached with +52.64%% (2x) and +2.97R

DeFi Composite index kept going down, the trade is totally closed now.