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Hi Traders,
Update on Bitcoin, Price seems to be trying to break the lows. This could be the start of the next leg to the downside, I will be waiting for the current daily candle to close below 18500.00.
If Price does manage to give the break to the downside I will be waiting for some sort of pullback before I look for shorts. The key is for Price to break and close below this level. If it does not close below I will not be entering any positions.
Remain patient for this one.
Renaldo Philander
Prediction Analysis Template
| Analysis Overview Information | Prediction Analysis information |
| On what market is this position based (Forex, Stocks, Crypto, Indices, or Commodities)? | Crypto |
| What is the trading position identifier (Name and/or Symbol)? | BTC/USD |
| Is this a Short or Long Position? | Short |
| Would this be considered a Short Term, Medium Term, or Long Term trade? | Long Term |
| As a Short, Medium, or Long Term trade, which best describes the position (Scalping, Day Trading, Swing Trading, or Position Trading)? | Swing Trading |
| What Time Frame chart is the position based on (1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, Daily, or Weekly chart)? | Daily |
| Depending on the asset, how much do you expect it to move in price or percentage? | From Entry to Target –39.61% |
| What ratio of risk to reward is this trade/position? Choose your appropriate target(s) | Approximately 3 to 1 Target 2 N/A Target 3 N/A |
| What were the technical analysis tools used? Tick the appropriate boxes; | ☐ Chart Patterns ☐ Indicators ☒ Price Action ☒ Support & Resistance ☐ Trendlines |
| From the technical analysis tools and indicators provided, tick the appropriate boxes for the tools and indicators used to analyze the position; | ☐ Ascending Triangle, ☐ Bollinger Bands, ☐ Candlesticks, ☐ Channel, ☐ Cup & Handle, ☐ Descending Triangle, ☐ Double Bottom, ☐ Double Top, ☐ EMA, ☐ Fibonacci Retracement, ☐ Flag, ☐ Head & Shoulders, ☐ MA, ☐ MACD, ☐ Order Blocks, ☐ Pennant, ☐ Rounding Top Or Bottom, ☐ RSI, ☐ Symmetrical Triangle, ☒ Volume, ☐ Wedge |
Trading Prediction Success Probability Score
FSP ranks the probability of this trade a 5/10
ENTRY SIGNS
- Break Below Key level
WATCH OUT FOR
- No Breakout No Entry
Disclaimer: The FSP probability score is derived from adding and subtracting the positive and negative aspects of the position and is not a definitive sign of how the trade will play out. FSP is not in any way a financial advisor
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