BTUSDT is having hard time to go uptrend since Nov 2021. This pair has been in a long descending channel and seemed comfortable enough not to leave it.
Last week, BTCUSDT seemed eager to move up. But, there is a supply zone patiently waiting at 39k or just between 61.8% and 50% Fibonacci retracement. Surely it is very hard for this pair to move above the 61.8% area. In fact, we can see a lot of bearish confirmation within this supply zone, indicating that market movers have a lot of sell order waiting to be executed here.
I entered the short trade on Feb 2, 2022, 16:00 UTC, sell price at 37500. Stop loss is at 39500 (just above the 61.8% Fibonacci) and target profit is at 33450, resulting in Risk to Reward ratio of 1:2.
Last week, BTCUSDT seemed eager to move up. But, there is a supply zone patiently waiting at 39k or just between 61.8% and 50% Fibonacci retracement. Surely it is very hard for this pair to move above the 61.8% area. In fact, we can see a lot of bearish confirmation within this supply zone, indicating that market movers have a lot of sell order waiting to be executed here.
I entered the short trade on Feb 2, 2022, 16:00 UTC, sell price at 37500. Stop loss is at 39500 (just above the 61.8% Fibonacci) and target profit is at 33450, resulting in Risk to Reward ratio of 1:2.
Dagangan ditutup: hentian tercapai
Unexpected bullish moves! Prepare to look for buy position!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.