an interesting BTC short trade

theres a rising wedge on this 1 hourly chart
a lower and lower volume input indicating a lack of buying interest as of this moment making this trade highly probable.

MACD is diverging also
we are still under the 200ema from 1 hour to daily charts

According to wykoff theory this would be the end of the automatic rally in case of a redistribution OR an accumulation phase and a secondary test of the support areas would reveal how strong buyers are at these levels.

IF buyers are stong and would support the areas around (0.382 0.5 0.618) the trendline it would be sufficient to assume we have a decent support and an accumulation phase is more likely (bullish) and a double bottom would be forming.

if the bulls hold 0.786 it would show selling strength still and there's a possibility we will more movement to the downside after the upthrust attempt
a lower low on the upthrust would be another sign of weakness from buyers and this lateral movement would likely turn to the downside.

gl everyone this is not a financial advice

註釋

P.S TP1 0.5
TP2 at 0.618
TP3 between 0.786 and 0.885
the rest we try to let it swing in case there's no bounce

交易進行

WE GETTING THAT MONEYGRAB OR WHAT?????

註釋

the retest on the trend line was anticipated if we break down this trade is confirmed

交易進行

we got filled again on the 58500 target and our original trade is on the go!
very interesting that the retest was a sweep that filled my position.

I have 2 positions 1is a limit order from peak top and 1 from before the trendline breakdown, the stoploss is shown on the chart.

both are in profit

交易結束：達到停損點

unfortunetly we reached a breakeven stop on 1 trade 1 other is still running

手動結束交易

closed in small profit
when a trade goes in your favor you should be happy if it goes against you you should close.

i didnt lose thanks to my stops there's always another trade