📊#BTC Rising Wedge📉
🧠From a structural perspective, we have reached the target area of the bullish cup-with-handle structure, so we need to be vigilant about the occurrence of a pullback.
➡️From a graphical perspective, we have formed a rising wedge near the red resistance area, which is generally regarded as a bearish model.
➡️If the rising trend support line does not hold and falls directly, then we can also expect further declines to occur
⚠️Note that counter-trend trading in an uptrend must be risk-managed.
Let's see👀
🤜If you like my analysis, please like💖 and share💬
BTCUSDT.P
🧠From a structural perspective, we have reached the target area of the bullish cup-with-handle structure, so we need to be vigilant about the occurrence of a pullback.
➡️From a graphical perspective, we have formed a rising wedge near the red resistance area, which is generally regarded as a bearish model.
➡️If the rising trend support line does not hold and falls directly, then we can also expect further declines to occur
⚠️Note that counter-trend trading in an uptrend must be risk-managed.
Let's see👀
🤜If you like my analysis, please like💖 and share💬
BTCUSDT.P Trade closed: target reached
Reach TP2.
80% of the position profit has been locked in.
A small portion of the position will be retained in the hope of more.
Note
#BTC Update
After setting a new all-time high, a large negative column appeared at the daily level, which means that a large number of holders chose to sell BTC to take profits. Therefore, we need to be alert to the risk of further decline! Based on this possibility, I still hold a small short position.
Yesterday, the long orders held near the overlapping support area of 108,000 were reduced by 80% when they reached the blue resistance line. After moving up the SL, they were touched and the orders were automatically closed. It was also a good profit band.
There is strong resistance near 110,000. Only if it breaks through here and stabilizes, can we see further rise.
There is a support effect near 105,000. Only by holding here can we have a chance to rise further.
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🔥🔥Use the invitation link to register and trade, and you can join the spot VIP club for free.🔥🔥
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
partner.niftah.cn/bg/wolfking20
👇BYBIT 👇
partner.bybit.com/b/wolfking
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
partner.niftah.cn/bg/wolfking20
👇BYBIT 👇
partner.bybit.com/b/wolfking
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.