Consolidation at the 78.60% Fib level.
What looks like a triangle pattern has been forming since end of May.
Could break out either way and if it does, TP could be at either 61.80% or 100% Fib levels.
If it's a bullish break there's a greater risk:reward breakout trade
Entry: 7760 (above the most recent high)
SL: 7620 (below the low of that candle)
TP1: 8040 (1:2)
TP2: 8180 (1:3 and 61.80% Fib level)
If it's a bearish breakout:
Entry: 7500
SL: 7700
TP: 7100 (1:2 and 100% Fib level)
There's no way to know which way this is going but I still have a bearish bias towards XBT. Based on a previous idea, Fib level is still acting as a resistance but bear pressure seems to be giving up too.
What looks like a triangle pattern has been forming since end of May.
Could break out either way and if it does, TP could be at either 61.80% or 100% Fib levels.
If it's a bullish break there's a greater risk:reward breakout trade
Entry: 7760 (above the most recent high)
SL: 7620 (below the low of that candle)
TP1: 8040 (1:2)
TP2: 8180 (1:3 and 61.80% Fib level)
If it's a bearish breakout:
Entry: 7500
SL: 7700
TP: 7100 (1:2 and 100% Fib level)
There's no way to know which way this is going but I still have a bearish bias towards XBT. Based on a previous idea, Fib level is still acting as a resistance but bear pressure seems to be giving up too.
Nota
Missed the trade? Fear not, inside bar or rally is the next signal to look for in an entry.If there's a rally that rejects the 7540 point, it could be a second opportunity to get in on the trade.
Nota
This is the actual structure I believe. Around 7480. Disregard previous comment.
Dagangan ditutup: sasaran tercapai
Yay!
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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.