10% retrace complete…Is it time for Bitcoin to Jump? $47K
It’s approximately 4:20 AM EST…….Bitcoin has completed 10% retrace as needed, showing some strong support above $41,000. The 20 EMA + 50 EMA are almost crossing paths now on daily timeframe, although the 100 EMA and Ichimoku cloud will need more volume and momentum.
The fact that these Bear Traps are setting up just like the previous time is beautiful. Below are my trade parameters.
ORANGE LINE: ENTRY PRICE
BLUE FLAG: CANDLE ENTRY LOCATION
PURPLE LINE: STOP LOSS
RED LINE: RESISTANCE ZONE
CYAN LINE: SUPPORT ZONE
GREEN ZONE: SUPER SUPPORT ZONE
Lower Limit : $40501
Stop Loss: $40500
Upper Limit: $52000
Take Profit: $52001
Grids: 46 (trades every $250 move up or down on BTC)
Profit per grid: 0.5%-0.75%
*Not a Financial Advisor* Use technical Analysis and do your own research. I am only taking this trade based on technical factors not emotions or impulse. If you traders are seeing this same reversal trend about to happen and bullish run for 47K —> 50K —> 60K like this post!
The fact that these Bear Traps are setting up just like the previous time is beautiful. Below are my trade parameters.
ORANGE LINE: ENTRY PRICE
BLUE FLAG: CANDLE ENTRY LOCATION
PURPLE LINE: STOP LOSS
RED LINE: RESISTANCE ZONE
CYAN LINE: SUPPORT ZONE
GREEN ZONE: SUPER SUPPORT ZONE
Lower Limit : $40501
Stop Loss: $40500
Upper Limit: $52000
Take Profit: $52001
Grids: 46 (trades every $250 move up or down on BTC)
Profit per grid: 0.5%-0.75%
*Not a Financial Advisor* Use technical Analysis and do your own research. I am only taking this trade based on technical factors not emotions or impulse. If you traders are seeing this same reversal trend about to happen and bullish run for 47K —> 50K —> 60K like this post!
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