Bitcoin / TetherShort
BTCUSDT Update: Dip Zone 2023/07/11
In my previous post, shown in blue lines, the price dipped to level 1 and 2. And then, I made a sell order by targeting the midpoint (50% line) and profitted 2 to 3 percent.
As an update (see colored maroon lines with corresponding dip zone values), the dip level 1 is now lower than the previous dip of the same level, and the midline is now aligned with the previous dip level 1. This may indicate a sign of weakness and price may re-trace back to the support zone to gather more momentum. Previous support zone is likely to be at the range between the 50% line (orange) and the dip level 2 line (blue). Noticed that both lines formed a confluence. If this is the case, I will expect the price to reach the current dip level 1 (maroon line).
Trade set-up: I will be placing buy orders for each dip level and sell when it reached 0.5 to 1 percent target profit.
/please DYOR/trade at your own risk
As an update (see colored maroon lines with corresponding dip zone values), the dip level 1 is now lower than the previous dip of the same level, and the midline is now aligned with the previous dip level 1. This may indicate a sign of weakness and price may re-trace back to the support zone to gather more momentum. Previous support zone is likely to be at the range between the 50% line (orange) and the dip level 2 line (blue). Noticed that both lines formed a confluence. If this is the case, I will expect the price to reach the current dip level 1 (maroon line).
Trade set-up: I will be placing buy orders for each dip level and sell when it reached 0.5 to 1 percent target profit.
/please DYOR/trade at your own risk
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