Hi guys, just sharing my setup idea for
BTCUSD
There is nice setup for short term trend continuation swing trade
BTCUSD
, after rejection at $52 000.
Yesterday price action brings fresh downward momentum after test supply area at $52 000 buyers rejected to buy at higher prices and sent
BTCUSD
price significant lower.
In long term perspective its still uptrend, for that definition i use MA 252 and EMA 77, but in mid term and short term its already downtrend confirmed.
Today price will be testing key demand area at $46 350 - $47 000 levels and very probably breakdown this level to continue mid-term downtrend, there is MA 252 so the breakdown could lead to very sharp down move.
Price is trading now at short term avarages so this fact and yesterday price action give high probabilities to price will be continue to sliding down to more appealing levels for buyers.
Its great setup for short term swing trade opportunity.
Next very strong demand level is $40 000 - $42 000 vhere will be lot of buyers probably, so its great place to set profit target in this area.
==================================
Swing trade setup
==================================
Entry: 46 946
Stop Loss: 49 670
Profit Target: 40 457
Trade duration: 2-7 days
BTCUSD
There is nice setup for short term trend continuation swing trade
BTCUSD
, after rejection at $52 000. Yesterday price action brings fresh downward momentum after test supply area at $52 000 buyers rejected to buy at higher prices and sent
BTCUSD
price significant lower. In long term perspective its still uptrend, for that definition i use MA 252 and EMA 77, but in mid term and short term its already downtrend confirmed.
Today price will be testing key demand area at $46 350 - $47 000 levels and very probably breakdown this level to continue mid-term downtrend, there is MA 252 so the breakdown could lead to very sharp down move.
Price is trading now at short term avarages so this fact and yesterday price action give high probabilities to price will be continue to sliding down to more appealing levels for buyers.
Its great setup for short term swing trade opportunity.
Next very strong demand level is $40 000 - $42 000 vhere will be lot of buyers probably, so its great place to set profit target in this area.
==================================
Swing trade setup
==================================
Entry: 46 946
Stop Loss: 49 670
Profit Target: 40 457
Trade duration: 2-7 days
