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BTCUSD H4: Symmetrical triangle BEARS 9600 USD(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: BTCUSD 4hour chart review/outlook
::: currently price is stuck in range
::: symmetrical triangle in progress
::: downside breakdown more likely
::: price came from above
::: therefore expecting breakdown
::: BITMEX trouble also a major
::: driver in bearish PA now
::: most likely: DISTRIBUTION
::: get ready to SHORT IT
::: 9600 target bears
::: based on measured move
::: that's where you want to SHORT IT
::: currently trading near range highs
::: shorting near range highs makes sense
::: TP BEARS is re-test of range lows
::: TP is 9600 USD
::: recommended strategy: SHORT IT / SHORT rips/rallies
::: TP 9600 USD
::: correction not over yet
::: good luck traders!
::: SHORT and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/9600 USD
::: Sentiment outlook short-term: BEARS
In this chart I show how if BNB is above 24,470 sats that it has a chance to save the crypto market moving into late November. The problem right now is most of the altcoin market is down - While Binance is saving face for the time being. If we are able to get back some of the long double band support coming up through the bottom of the chart - and ultimately clear 26,000 sats before Halloween then YES - BINANCE has a very good chance at saving the market and giving us a strong 2020 ending - just as it did in the first half of the year!
If you want to watch the video click the link in the Bio!
Stay Cryptic Ya'll.
-BK-