Selling BTC/USD at 69,000
Although trading in Bitcoin continues to be mixed and volatile, there are certain factors that offer a negative bias:
• We posted a bearish Outside Daily candle on October 21. This formation is often seen at the top of the trend and the start of a new downward bias.
• We have broken out of an Ending Wedge formation to the downside. This pattern offers a measured move target of 62,033.
• The intraday chart highlights the building of a bearish Bat formation. We have substantial resistance is located at 69,000.
This trade plan will expire at midnight on October 24.
SL: 70,250
TP1: 62,055
R Rate 5.56
#tradeplan #bitcoin
• We posted a bearish Outside Daily candle on October 21. This formation is often seen at the top of the trend and the start of a new downward bias.
• We have broken out of an Ending Wedge formation to the downside. This pattern offers a measured move target of 62,033.
• The intraday chart highlights the building of a bearish Bat formation. We have substantial resistance is located at 69,000.
This trade plan will expire at midnight on October 24.
SL: 70,250
TP1: 62,055
R Rate 5.56
#tradeplan #bitcoin
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