BTCUSD - Retracement to 55k, Imminent Correction?

2021년 2월 21일

My opinions are not financial advice!

Another scythe pattern on BTCUSDT is developing on the 15m chart.
For this particular trade, there are two targets to watch:

• The 200 EMA will lock in a profit in the event that bull support for BTC is still strong, and the price rebounds off of the line.
  
• The daily L3 pivot is also a likely support zone to watch for, as the previous day's dip closed and rebounded on that price.
  

A continuing bearish divergence on the RSI indicates that a retracement is likely, and a correction may be imminent.

2021년 2월 21일

코멘트

Ascending triangle on the 5min -- waiting to see breakout direction.

2021년 2월 21일

거래청산: 스탑 닿음

Stop loss was triggered. BTC breaks out in upwards direction because of the ascending triangle.

Trade type: Short
Percent Gain/Loss: -1.5%

2021년 2월 22일

코멘트

False breakout -- Bitcoin correction underway, expected support around 48k.

2021년 2월 22일

코멘트

Bitcoin bounced off the support as expected -- the 12Hr L6 pivot and a buy wall, candle low just beneath 48k.

2021년 3월 1일

코멘트

Final thoughts: the stop was set too low to account for a false breakout.