Bitcoin made a new local-high this morning and the past 6 hours of consolidation have given time for some indicators to reset to a neutral to 'bullish' stance.
Indicators
RSI: Possible bullish divergence, agreeing with the intra-day price increase.
OBV: Neutral
Money Flow: Neutral
Trade
Good R:R potential here for a long, best entry will be from the bottom trend line at ~7390 and sells between 8075 and 8280. If possible I will follow the price with stop's until a high target of ~8730.
Targets
Entry: 7390
Low exit: 8075
Mid exit: 8280
High exit: 8730
Notes
There are short set-ups, however, I like the R:R on the long option.
Indicators
RSI: Possible bullish divergence, agreeing with the intra-day price increase.
OBV: Neutral
Money Flow: Neutral
Trade
Good R:R potential here for a long, best entry will be from the bottom trend line at ~7390 and sells between 8075 and 8280. If possible I will follow the price with stop's until a high target of ~8730.
Targets
Entry: 7390
Low exit: 8075
Mid exit: 8280
High exit: 8730
Notes
There are short set-ups, however, I like the R:R on the long option.
Trade active:
Decent pick-up in volume, entered 20% of my position here @ 7556
Trade active:
Full allocation now in play.
Comment:
Sl now in profit
Trade closed manually