Optimal Scenario for Long setups on BITCOIN by ThinkingAntsOk

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Use this as a guide to develop your setup.

Today, we will share what we consider will be a High-Quality setup on BTC/USD from a Technical Perspective.

a)Currently, the price is on a Falling Wedge Pattern (continuation Structures)
b)what we are waiting is a break out of the structure
c)If that happens we will wait for a Throw-back
d)when b) and c) is completed we will set our orders as shown on the chart

why do we develop our setup like this?

Because trading a direct breakout of a Daily Structure can lead to a lot of fake outs. That's the reason we will wait for the price to be outside the falling wedge and then a Throw-back (a counter-movement) IF the price fails on keep falling that will be the final evidence that the demand is on control and we will expect the beginning of a new bullish trend with our order above the first attempt of breakout.

Thinking Ants.
A platform entirely created to improve Traders development.
I think we'll drop to 7650ish first, then go up. But I like your positive(bullish) thinking. Ty
+1 Reply
@syotos, Hi! This is just an Optimal Scenario, think it in this way: IF that happens we will be in front of a high-quality setup to trade, in case the price starts a bearish movement from there we stayed outside the market without risking our money. With this type of analysis, we do not pretend to say "this will happens" is just a way to be in front of the price and have pre-defined scenarios to trade and wait for this formations. Thank you very much for the comment!
thanks man, but it seems some sign of small decline are here... i think 7.7 before 8.9ish
@Alex_B1M, Hi! Yes, we do not discard the idea of different movements or paths the price can take. This is just an optimal scenario; we will be waiting for trading. IF the forecast happens, we will already know what to do on what we consider will be a High-Quality setup. And in case the price takes a different path, we will stay outside the market looking for a new clear opportunity.
+1 Reply
@Alex_B1M, Or not...
+1 Reply
Alex_B1M vapordwarf
@vapordwarf, even better man :D but i'm scared about a worst correction after this
based on two wicks? thats not smart since that can differ alot from each exchange
@DAVID9039, Hi David! Sorry to ask again, can you make the question on a different way (we will gladly answer)? we didn't understand what you want to say.
DAVID9039 ThinkingAntsOk
@ThinkingAntsOk, Hello you are drawing a trendline with two wicks that btc made, but on every exchange the wicks are different, higher or lower, so that can make a difference. hope u understand :)
@DAVID9039, the white trendline that u want to entry at
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