BTC needs to take some potty break before continuing up, but...
Hello everyone, I am very busy today and have not been able to spare my time to publish anything until this late evening.
As of now I am in a long position, entering from 62500 since approximately 4 hours ago. I am putting a stop profit at 62800 (just right at the blue line below the current candle) which I will increase gradually as BTC hopefully continue its upward movement
I have put some markings to better identify potential entry points for longs and shorts. No they will not be precisely in that position, but you can follow the arrows to know where it most likely will be rejected (when they are near to support or resistance channel lines)
Ideally, I hope it will move like the blue arrow path, but most likely, it will move similar to the red arrow path, all squiggly along the current blue support channel line.
Is BTC continue going to be bullish? I am not sure, its a game of probability so we can only chart hopefully every potential path it may travel to. I personally believe a correction is imminent, considering we have been climbing up non stop for 3 weeks. But I believe we can still milk some longs before the drop happens (just make sure to always put stop loss upon entry and stop profit once u start gaining)
I will end my blabber here today since I need to run again soon for a nice weekend dinner with my family. Thanks for stopping by and considering my idea, hope it can help you in some ways.
Happy weekend!
As of now I am in a long position, entering from 62500 since approximately 4 hours ago. I am putting a stop profit at 62800 (just right at the blue line below the current candle) which I will increase gradually as BTC hopefully continue its upward movement
I have put some markings to better identify potential entry points for longs and shorts. No they will not be precisely in that position, but you can follow the arrows to know where it most likely will be rejected (when they are near to support or resistance channel lines)
Ideally, I hope it will move like the blue arrow path, but most likely, it will move similar to the red arrow path, all squiggly along the current blue support channel line.
Is BTC continue going to be bullish? I am not sure, its a game of probability so we can only chart hopefully every potential path it may travel to. I personally believe a correction is imminent, considering we have been climbing up non stop for 3 weeks. But I believe we can still milk some longs before the drop happens (just make sure to always put stop loss upon entry and stop profit once u start gaining)
I will end my blabber here today since I need to run again soon for a nice weekend dinner with my family. Thanks for stopping by and considering my idea, hope it can help you in some ways.
Happy weekend!
Trade closed: stop reached:
Stop profit hit at 62999, btc now enters bearish channel trend