BTC/USDT Short to $50k

22. Apr. 2021BTC/USDT has fallen below the 200MA on the 1H chart and a sharp triggering a massive sell off which looks like it is likely to continue down to previous support levels at $50,500. Expect a 15% drop over the next 24 hours.

22. Apr. 2021

Trade ist aktiv

First entry successfully reached TP1 but was stopped out in the overnight hours. The 20MA trend is still looking bearish, however, on the 1H period. Look for re-entry $54,200, once we get confirmation of a close below the 1H middle Bollinger. With the re-entry, TP points have been adjusted as well. Looking a short TP1 around $51,700 with TP2 around 50k and an optimistic TP3 around the March 5th support marker at $48,300. Will likely not hit TP3. Planning to activate a loose trailing stop if movement continues down after 50k.

23. Apr. 2021

Kommentar

Successful re-entry at $53013. Currently watching to verify support line at $51000 has broken. Looking for take profit of around 5% around the 50k marker where significant psychological threshold will likely provide a new price floor for the rest of the weekend.

23. Apr. 2021

Trade geschlossen: Ziel wurde erreicht

A sudden downturn in the price has taken the price down to 50k as expected reaching take profit target. Expecting 50k to hold. Look for support failure to lead to further decline. Support here will likely rally back to 53k at which point, be on the lookout for a re-test of the 50k floor.