I'm going to open the main long position for this coin in the zone between 21.80 and 20.00 resistance level. It is the support zone, and the market can bounce from it. For buying, we just need to get a reversal signal.
If the price breaks 20.00 resistance, SMA200 and SMA100 will act as trend lines. Reversal signals from them also will be good for buying.
And the lowest entry point for long positions should be at the main uptrend line. If the price reaches this support, reversal signals will be good for buying.
I'm going to split the sum, which I want to invest in this market into three parts. It will allow me to avoid a quick reversal with a further upward movement, but if the price moves downward, I will have money to buy the coin with better prices.
What about you?
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Bitcoin has finished ABC correction and will go up after weekend! This idea below explains why:
Confucius-The-Great
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It sounds as an intelligent plan.
What is plan E? If BNB drops below the blue trend line? (worst case scenario)
Thanks for sharing.
DLavrov
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@Confucius-The-Great, thanks for your comment! I use the proper money management. For me, it will be absolutely ok if the price drops below the uptrend line. It will be a signal that probably the bearish period will be continued. I will close all long trades by the main stop and I will search for new trade opportunities.
FranzHRO
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Heya, my plan is similar to yours. Somewhere between 21.80 and 18.25 im going in. Depends on the movements of btc :)