cheynos

My trades for the upcomming hours (BTC) (short term, 1hr chart)

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Today no major update, fundamentals still great, waiting on the ETF news and looking closely to the 6.8K level like everyone else. Will not write about how important that 6.8K level is because that’s clear now (everyone speaking about it).
Today I would like to share some trades I’m going to make in the next days:

-So I expect a small rally before the ETF decision on august 10th. Nevertheless I expect nothing major…

-Saw a lot of people on twitter , etc… talking the bear flag on the 1hr chart, to be honest it was a schoolbook example for a couple hours but in the last few hours, BTC has broken the trendline (as expected) but found support at 6.87K for a few hours now. So we can not speak about a ‘clear’ bearflag anymore.

- - we've found support at 6.875K 4 times today


-The boilinger bands are telling us that BTC price is ‘to low at the moment’. So we saw in the past that the boilinger bands are a great indicator short term. We’ve broke the support line at the bottom of the boilinger band so I expect a small rally.

-We are hugely oversold RN.



Orders
Pos 1: So I will put my order at 6.9K. and my next target is just below our prevouis resistance at 7.15K. this could be a possible profit of 3.7%, with a small leverage +/- 10%.

Pos2: If we break below our 6.87K we are going to bounce at the 6.8K level. I think that find support just above the 6.8K because a lot of people put their shorts just above that level. I expect a lot of people putting it at 6.8K so I expect there a small bounce for sure before we possibly go down more. On that trade we could make something around 1%.

Pos 1:
Order: 6.9K
stoploss: 6.87K
next target: around 7.1K
possible profit without leverage: +/- 3%
Pos2:
Order: 6.8K
stoploss: 6.75K
next target:6.875K
possible profit without leverage: +/- 1%.

(this is no financial advice)
Love to hear your opinion on this!
DM's and comments are always welcome.
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