BTC breakout BullFlag LONG setup

CryptoHolix Updated   
Self explanatory LONG setup with stop loss near pivot low
manage trade heading into premarket
TP#1 just before pivot high, adjust stop loss after 1st target hits (or trail stop)
favoring the ending a a 5-wave sequence
we await to see what happens after
MANAGE your trade with SL, BTC is trading at very high levels were anticipating a massive correction sooner or later
Be aware, they can wick down for liquidity, so either keep the SL wide, or, put another Long order right around the lower trendline with a stop loss bit further from the pivot low
zooming in, this could just be the first move, if we do wick down, it can justify and favor the count
the bearish view is that the 5 wave sequence was already completed and the bounces have been a 1-2,1-2 bearish setup
so, recognize the importance of managing risk with SL
Trade active:
✅ Target #1
played out well,
adjust SL to 51k-52k as u deem fit. keep some distance for the wave iv pullbacks, if it fails (retraces more than 0.5 the move, its invalidated and over)
Trade closed manually:
let the sharks figure it out in these deep waters


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.