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Tuesday, October 6, 2020

BTCUSD H4: Symmetrical triangle BEARS 9600 USD(SL/TP)(NEW)

BTCUSD H4: Symmetrical triangle BEARS 9600 USD(SL/TP)(NEW)

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

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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.


๐Ÿ”ธ 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.
๐Ÿ”ธ Supply/Demand Zones
::: N/A
::: N/A
๐Ÿ”ธ Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/9600 USD
::: Sentiment outlook short-term: BEARS



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