Daily:
BTC formed it's first LL since the March crash last year.
4h:
BTC forming an ascending wedge after a huge drop. Higher probability of this playing out as a bear flag.
Momentum on upward pushes is dropping.
Supply zone above lines up really well with 78 fib. Strong 4H resistance we recently rejected off also in between.
Good chance we don't get back up there and breakdown from here, but could also come back up and give CCI bearish divergence, reject off the zone and I'd be in a really nice position for a short.
Dropped risk down to 0.5R. I've been hesitant to trade BTC since my liquidation, so using this as a chance to get back on the horse. Could well go tits up, but 5:1 R:R means I can get plenty of these wrong and still be profitable. I'm willing to pay the price to find out if I'm right.
BTC formed it's first LL since the March crash last year.
4h:
BTC forming an ascending wedge after a huge drop. Higher probability of this playing out as a bear flag.
Momentum on upward pushes is dropping.
Supply zone above lines up really well with 78 fib. Strong 4H resistance we recently rejected off also in between.
Good chance we don't get back up there and breakdown from here, but could also come back up and give CCI bearish divergence, reject off the zone and I'd be in a really nice position for a short.
Dropped risk down to 0.5R. I've been hesitant to trade BTC since my liquidation, so using this as a chance to get back on the horse. Could well go tits up, but 5:1 R:R means I can get plenty of these wrong and still be profitable. I'm willing to pay the price to find out if I'm right.
Comment:
TP 1 hit overnight
Comment:
Thanks Elon.
TP 2 & 3 hit. Phat profits made.
SL in profit above previous high, now just gonna run it down and see how far we get.
TP 2 & 3 hit. Phat profits made.
SL in profit above previous high, now just gonna run it down and see how far we get.