BTC/USD - 6 Hour Candle Analysis

Besides some simple scalps, I have been sitting on the sideline today.

Catch the bottom? No thanks, that's not for me. I very much prefer lower risk setups, and by definition, catching the bottom is buying against the trend. Same for catching top, you are selling against the trend.

Rant:
- No wave counts, no indicators, just candle sticks and fibonacci.
- Why? Candle stick = Market psychology; fibonacci = ruler of nature.
- textbook trend reversal set up.
- textbook pullback to re-test, giving opportunity to buy.
- SL is below support. I will not be using it. If it drops to 5K, I cringe, deal with it, and buy more at 5K. Why? Because it's bitcoin. You ask what if it sinks to $10? Well too bad, I will sink with it.

Comment:

In my opinion, this pullback is also a phenomenal opportunity to build long term portfolio. (Talking about 1yr+ hodl positions)

Comment:

pullback to .382, didin't get to .618 I am in

Comment:

I just wanted to mention that although this is a strong reversal signal, the real confirmation won't come in a few weeks until we've enough data.

Comment:

shooting star forming on 4 hr chart take care with long positions

Trade closed manually:

Watch your pants

Comment:

4 hour closed as a green dogi.
Wait for more data.

Trade active:

Super super high r/r ratio.

Trade active:

Buy zone reached. I'm in targeting 8900-9000

Comment:

Bounced with volume!

The great thing about these high r/r ratio set up is that you can play much larger position sizes!

Comment:

Sorry that was a very fast entry! Only 7 minutes between post/hit target buy.

Let me know if you guys/girls got in!!!

Trade closed: stop reached:

unfortunately

Trade active:

- I re-entered @1654
- SL 1580
- Still targeting 8.9K

Trade closed: stop reached:

welp~
That's two losses in a row, I'm taking a break tmr~

Comment:

Haven't had a losing day in a while, but...
Down a few hundred $ today, will post my mistakes on the weekend.