BTCUSD has hit the necessary checkpoints that I needed to take a trade. It has finally completed another mean reversion and returned to its 52 day SMA mean. It also completed a long overdue 61.8% Fib retracement. Even though its in my buying zone I would prefer to see a deeper dive into oversold territory to feel all warm and fuzzy about this trade. With that being said I an watching for the classic break-check-go setup as my trade trigger. Twice in 2017 BTC did the same thing (returned to the mean, hit 61.8% Fib and got into oversold territory) so this is the trade that I have been waiting on. Remember trade only what you can afford to loose and plan your trade and trade your plan. Thanks to all!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.