$BTC/USD 8h (#Bybit) Descending trendline on resistance

7 feb 2022

⚡️⚡️ #BTC/USD ⚡️⚡️
Exchanges: ByBit, BitMEX, Binance Coin-Futures
Signal Type: Regular (Short)
Leverage: Isolated (3.0X)

Current Price:
43399.5

Entry Zone:
43260.0 - 44712.0

Take-Profit Targets:
1) 40620.0
2) 37791.0
3) 35742.0

Stop Targets:
1) 46802.0

Bitcoin is facing strong supply zone here and is likely to locally reverse on 200MA, let's #Hedge!

Risk/Reward= 1:1.2 | 1:2.2 | 1:2.93
Expected Profit= +22.95% | +42.24% | +56.22%
Possible Loss= -19.20%

Fib. Retracement= 0.236 | 0.5 | 0.702
Margin Leverage= 3x
Estimated Gain-time= 1 month

Tags: #BTC #BTCUSDT #XBT #Blockchain #PoW #Satoshi #BSC WBTC BBTCB

Website: bitcoin.org

9 feb 2022

Trade attivo

All entries filled

Bitcoin is getting rejected on resistance and RSI as well, we'll stick to the plan here!

16 feb 2022

Nota

Back to supply zone

Bitcoin is facing similar situation, trying to push higher but not strong enough yet!

2 mar 2022

Trade chiuso: obiettivo raggiunto

TP3 was reached with +56.22% (3x) and +2.93R

Bitcoin retraced down quite accurately and achieved all targets before bouncing very strong!
Now back to entry, you could give it another try but we would not expect more than TP1 since the picture looks more bullish now.