During the previous session, the Bitcoin unscrewed and received a support level of around $6210 on Bitmex. XBT then bounced back and now evolves in an upward bevel configuration.
As you know, this downward trend pattern often has a downward exit as well. In addition, this level also corresponds to a horizontal support at $6260.
The strategy is to go short if these 2 levels are broken to aim for a return to $6210 and $6140 afterwards.
Summary of the strategy:
Short: Confirmed wedge and support breakage at $6260. One candle below the support in 30 min time horizon can count as confirmation !
T1 : $6210
T2 : $6140
Stop: $6287 after the break
Make sure to raise your stop-loss above your purchase price if the price approaches T1, to eliminate the risk of trading.
More Strategy like this ? Visit: www.crypto-addicts.com
As you know, this downward trend pattern often has a downward exit as well. In addition, this level also corresponds to a horizontal support at $6260.
The strategy is to go short if these 2 levels are broken to aim for a return to $6210 and $6140 afterwards.
Summary of the strategy:
Short: Confirmed wedge and support breakage at $6260. One candle below the support in 30 min time horizon can count as confirmation !
T1 : $6210
T2 : $6140
Stop: $6287 after the break
Make sure to raise your stop-loss above your purchase price if the price approaches T1, to eliminate the risk of trading.
More Strategy like this ? Visit: www.crypto-addicts.com