A winter sunday play on Bitcoin, bulls towards $4600 [BTFD]

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
quick play on bitcoin today, please give a thumbs up if you like the chart....

we are looking to get a long position/buy into bitcoin for a quick scalp on sunday

targeting the 0.882fib level and 21 EMA (blue line)on the daily chart:

there is a very good chance we will hit this target of $4630 and possible short from that area back down to $4k is very probable in next 24-48hrs to retest lows before weekday markets open

if there is momentum and timing is right we could see a move beyond $5k but currently thats not so likely as what has been stated above regarding the rebound off resistances due to the Fib and EMA

Stop loss at $4080

Good trades y'all

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Trade active: 4hr view, bullish again here and ready to swing up

Trade closed: stop reached:

price fell under averages and we got stopped out for minimal loss
Is there any reason to select $4080 as stop loss. I feel it as a too close value. Yesterday ( Saturday 1st dec ), there was a time BTC dropped to $39xx range.
+1 Reply
majorlee rkothwala
@rkothwala, hi and thanks for your question/comment

this is a scalp quick play and not risking too much here, either we go up and profit or stop out at very small loss

if you want to have a bigger S/L then maybe you can risk more with a $3970 instead but we are still in play for now, just depends when you bought in i guess
rkothwala majorlee
@majorlee, I accept that taking small loss is good in these markets. It seems we are still in downtrend and going to test 200 MA weekly level. If that will the huge support level, I'll buy more.
+1 Reply
majorlee rkothwala
@rkothwala, yeah man were on the same page here:

just did this earlier....

majorlee rkothwala
@rkothwala, thank you for your comment
+1 Reply
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