Greetings,
Bitcoin has a good chance to continue its correction at the moment. On the hourly chart an uptrend wedge was formed near the top, which was broken down and now on the hourly chart the price is being squeezed into a symmetrical triangle.
In this case, if the trendline (purple) is broken and fixes below it, we can say that the local uptrend has broken and the correction will continue. Only in this case I will consider a short. Targets in such a scenario are 20.6-20.8k and 19.8-20k, which is about 10%. Cancellation of this scenario the price exit beyond the zone of 24.1-24.2k.
Always use a stop loss, and do not use a leverage higher than x3.
A trader should always have tomorrow.
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Bitcoin has a good chance to continue its correction at the moment. On the hourly chart an uptrend wedge was formed near the top, which was broken down and now on the hourly chart the price is being squeezed into a symmetrical triangle.
In this case, if the trendline (purple) is broken and fixes below it, we can say that the local uptrend has broken and the correction will continue. Only in this case I will consider a short. Targets in such a scenario are 20.6-20.8k and 19.8-20k, which is about 10%. Cancellation of this scenario the price exit beyond the zone of 24.1-24.2k.
Always use a stop loss, and do not use a leverage higher than x3.
A trader should always have tomorrow.
If this information is useful, please like and subscribe, so as not to miss anything.
הערה:
There was no entry point, the trend line was not broken
