📊#BTC Rounding Top⚠️
🧠From a structural perspective, the downtrend remains intact, and BTC spot trading is showing a net outflow, so please be cautious about going long!
➡️From a modeling perspective, a rounding top pattern has formed here. Using measurement tools, we can estimate a potential target around 51888.
➡️Currently, a bearish flag pattern has formed near the neckline of the rounding top, further increasing the expectation of a decline. Therefore, we can try to participate in some short positions here.
⚠️Note that there is some support around 58000. Going short here would be too aggressive, so please be sure to manage your risk!
🤜Follow me, and I will guide you through market changes. Remember to like💖 and share💬
BTCUSDT.P
🧠From a structural perspective, the downtrend remains intact, and BTC spot trading is showing a net outflow, so please be cautious about going long!
➡️From a modeling perspective, a rounding top pattern has formed here. Using measurement tools, we can estimate a potential target around 51888.
➡️Currently, a bearish flag pattern has formed near the neckline of the rounding top, further increasing the expectation of a decline. Therefore, we can try to participate in some short positions here.
⚠️Note that there is some support around 58000. Going short here would be too aggressive, so please be sure to manage your risk!
🤜Follow me, and I will guide you through market changes. Remember to like💖 and share💬
BTCUSDT.P Transakcja zakończona: osiągnięto poziom stop
#BTC Update
Unfortunately, we didn't see a significant drop this time. Although we dropped $1000 from the entry point, I was still expecting more, ignoring the 0.618 Fibonacci retracement level on the weekly chart, thus triggering my stop-loss!
Currently, this can only be interpreted as a rebound within a downtrend, not a reversal. Therefore, we still need to look for shorting opportunities at higher levels. The next shorting opportunity might be found within the 62300-63300 resistance zone I've been watching.
We've entered a complex consolidation phase, and there's a possibility of a descending triangle forming.
💎Use WolfKing's exclusive invitation code to trade and gain VIP subscription access.
🔗 BITGET 👉wolf20👇
partner.bitget.fit/bg/wolfking20
🔗 BYBIT 👉WOLFKING👇
partner.bybit.com/b/wolfking
🔗 Binance 👉O3D948JZ👇
🔗 BITGET 👉wolf20👇
partner.bitget.fit/bg/wolfking20
🔗 BYBIT 👉WOLFKING👇
partner.bybit.com/b/wolfking
🔗 Binance 👉O3D948JZ👇
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
💎Use WolfKing's exclusive invitation code to trade and gain VIP subscription access.
🔗 BITGET 👉wolf20👇
partner.bitget.fit/bg/wolfking20
🔗 BYBIT 👉WOLFKING👇
partner.bybit.com/b/wolfking
🔗 Binance 👉O3D948JZ👇
🔗 BITGET 👉wolf20👇
partner.bitget.fit/bg/wolfking20
🔗 BYBIT 👉WOLFKING👇
partner.bybit.com/b/wolfking
🔗 Binance 👉O3D948JZ👇
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.