BTC/USDT buy/sell trading strategy
• Currently ending consolidation wave 4 of larger cycle starting 6th Feb @ c.6000
• Wave 4 formed bullish symmetrical triangle and looks to be breaking out
• Entering fifth impulse wave of motive phase:
- Wave 1 to reach c.11,750 at historical support/resistance level
- Wave 2 to retrace to the 38.2% Fib, also a historical support/resistance level
- Wave 3 to extend to 50% Fib, also a historical support/resistance level, testing and breaking through the red trend line
- Wave 4 to retrace to find support on the red trend line, back to historical support/resistance level
- Wave 5 to end at the 61.8 Fib level, also another historical support/resistance level
• Notes:
- Fib levels are based on swing high @ c.20,000 and swing low at @ c.6,000
- Dotted red trend line starts @ c.20,000 swing high and touches again @ c.17,250
- Thick black lines show historical key support / resistance levels
• Plan to buy and sell into Tether to take profits going up the Elliot wave:
- Enter: 10,474
- Target 1 (sell): 11,764 (+12% profit)
- Target 2 (buy): 11,197 (+4% profit)
- Target 3 (sell): 12,875 (+15% profit)
- Target 4 (buy): 12,276 (+4% profit)
- Target 5 (sell): 14,473 (+18% profit)
• Total profit potential 53% or 64% with effect of compounding (in reality this will be lower depending on confirmation risk appetite / ability to execute trades at swing highs and lows)
Please note this my opinion and should not be taken as investment advice.
• Wave 4 formed bullish symmetrical triangle and looks to be breaking out
• Entering fifth impulse wave of motive phase:
- Wave 1 to reach c.11,750 at historical support/resistance level
- Wave 2 to retrace to the 38.2% Fib, also a historical support/resistance level
- Wave 3 to extend to 50% Fib, also a historical support/resistance level, testing and breaking through the red trend line
- Wave 4 to retrace to find support on the red trend line, back to historical support/resistance level
- Wave 5 to end at the 61.8 Fib level, also another historical support/resistance level
• Notes:
- Fib levels are based on swing high @ c.20,000 and swing low at @ c.6,000
- Dotted red trend line starts @ c.20,000 swing high and touches again @ c.17,250
- Thick black lines show historical key support / resistance levels
• Plan to buy and sell into Tether to take profits going up the Elliot wave:
- Enter: 10,474
- Target 1 (sell): 11,764 (+12% profit)
- Target 2 (buy): 11,197 (+4% profit)
- Target 3 (sell): 12,875 (+15% profit)
- Target 4 (buy): 12,276 (+4% profit)
- Target 5 (sell): 14,473 (+18% profit)
• Total profit potential 53% or 64% with effect of compounding (in reality this will be lower depending on confirmation risk appetite / ability to execute trades at swing highs and lows)
Please note this my opinion and should not be taken as investment advice.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.