BTCUSD POTENTIAL LONG
1D Chart:
* price is sitting at a recent significant structure level
*buyer seems to be showing slight interest already at this level
4H Chart:
*Price shows large green(buyer) candle to the upside at this level of structure
*Price ended with a higher high higher close on 4H candle WITH momentum
1H Chart:
*Price had LARGE buyer push to the upside
*Price broke a recent level of structure to the upside
*Buyers are showing strong interest in Bitcoin at the price 6100
Entry:
* Look to enter IF we see a weak pullback from the sellers. We want a weak pullback because in trading it comes down to probability and if the sellers came in strong it wouldn't be a clear probable setup on the buy side.
*Wait for buyer to show interest again at price around the structure point 6250-6200 also the 50-61.8% fib if you trade with Fibonacci levels.
Targets: 6580, 6700, 6900
Stop: 6000 price point
REMEMBER this is a short term outlook. This does NOT mean that Bitcoin will for sure rise. This analysis is based on momentum, structure, and probability of the pullback(which hasn't happened yet). Make sure with every trade to stay disciplined with what you like trading and with proper risk management.
Never risk more than 2% of capital. Make sure to always have a good risk/reward.
Cheers!
1D Chart:
* price is sitting at a recent significant structure level
*buyer seems to be showing slight interest already at this level
4H Chart:
*Price shows large green(buyer) candle to the upside at this level of structure
*Price ended with a higher high higher close on 4H candle WITH momentum
1H Chart:
*Price had LARGE buyer push to the upside
*Price broke a recent level of structure to the upside
*Buyers are showing strong interest in Bitcoin at the price 6100
Entry:
* Look to enter IF we see a weak pullback from the sellers. We want a weak pullback because in trading it comes down to probability and if the sellers came in strong it wouldn't be a clear probable setup on the buy side.
*Wait for buyer to show interest again at price around the structure point 6250-6200 also the 50-61.8% fib if you trade with Fibonacci levels.
Targets: 6580, 6700, 6900
Stop: 6000 price point
REMEMBER this is a short term outlook. This does NOT mean that Bitcoin will for sure rise. This analysis is based on momentum, structure, and probability of the pullback(which hasn't happened yet). Make sure with every trade to stay disciplined with what you like trading and with proper risk management.
Never risk more than 2% of capital. Make sure to always have a good risk/reward.
Cheers!