exkuji

A chance to enter Long with a minimal SL

Long
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
we have a break out with volume , but this volume is not enough. Either we will climb up, or we will retrace.
retrace means, we sell all long, and just sit and wait for confirmation short.
There is a middle of Long term Long channel so the price reaction is obvious.
Right now is a chance to open Long position with a very small Sl.
I suggest to use this opportunity as ods to go higher is bigger than to go down, but we need time to see further price action development.
Indicators show that there is a buyer who pushes the price, and there is a limit seller who holds the price.
Don't want to go predictions on which side will win.
Trade closed manually: close it manually. If we go higher will enter again, or will be searching entry point after this correction.
Comment: we have to wait but there is a big chance that we are going to fulfill red one path.

Comments

Seems logical to me
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exkuji VincePrince
@VincePrince, yes, it is possible. I just want to mention, that your trend line differs on other exchanges so we should wait for confirmation.
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@exkuji, Right but this is a major resistance we need to cross as mentioned. All the best.
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