BTC Long Setup
Entry: $3,8291.74
TP & RR: $4,4950.00 (2.52)
Stop Loss: $3,5651.36
REASONS FOR THE TRADE
After the invalidated short last week, the price should continue trending up at least a little more. My entry is pretty much at the current level with a target of around $45,000. Stop Loss is fairly close, so if you are opening a position in a commission-free platform, do take into account the spread as it ranges from 0.5% to 1% depending on the platform.
In terms of technical analysis, there isn't much to discuss here - price trending up on the 1h and 4hchart, the Market Flow indicator went back down, ready to go up again.
Entry: $3,8291.74
TP & RR: $4,4950.00 (2.52)
Stop Loss: $3,5651.36
REASONS FOR THE TRADE
After the invalidated short last week, the price should continue trending up at least a little more. My entry is pretty much at the current level with a target of around $45,000. Stop Loss is fairly close, so if you are opening a position in a commission-free platform, do take into account the spread as it ranges from 0.5% to 1% depending on the platform.
In terms of technical analysis, there isn't much to discuss here - price trending up on the 1h and 4hchart, the Market Flow indicator went back down, ready to go up again.