$BTCDOM/USDT 4h (Binance Futures) Falling wedge on support

2021年8月16日

Bitcoin Dominance is looking locally bottomed here and another dead-cat bounce is likely.
High Time-Frame still looks bearish, but first we expect it to break out of the parallel channel retesting 50MA!
Then, if the wedge is broken as well it would probably go revisiting 200MA and descending TL.

Current Price= 966.7
Buy Entry = 968.7 - 955.5
Take Profit= 1008.0 | 1039.2 | 1091.9
Stop Loss= 1039.8

Risk/Reward= 1:1.25 | 1:2.1 | 1:3.53
Expected Profit= +23.85% | +40.05% | +67.45%
Possible Loss= -19.10%

Fib. Retracement= 0.382 | 0.618 | 1
Margin Leverage= 5x
Estimated Gain-time= 10 days

2021年8月16日

交易進行

Both entries filled

Bitcoin Dominance is bouncing on wedge support so far and could break-out soon.

2021年8月18日

註釋

Local bottom is in play

Bitcoin Dominance has successfully broken and retested the descending channel.
Now would be a good time to add to the position especially if you are over exposed in big ALTs vs BTC on Spot (or Margin)!

2021年8月18日

交易結束：目標達成

TP1 reached with +23.85% (5x) and +1.25R

Bitcoin Dominance pumped as expected and regained 50MA, confirming the wedge break-out.
Perfect way to hedge big ALTs against BTC using USDT, this index is surely something!

2021年8月25日

註釋

Back above 50MA

Bitcoin Dominance dipped down to demand zone without stopping us out then bounced back twice already.
100EMA is acting as strong resistance but we believe next attempt should be enough to break it!

2021年8月31日

手動結束交易

Remaining position closed with -3.45% (5x) and -0.19R

Bitcoin Dominance tried but was not able to regain 100EMA then broke-down bearish after.
Too bad for that hedge, very good for Altcoins to keep shining, summer has not ended yet!