In my last post regarding Bitcoin I mentioned the two scenario's I was looking for. Either an extension lower with price breaking the previous low, or a corrrective structure for a continuation higher to break above 10k. So how I play it? Very simple, I execute a long position once I see a buy set-up on the 1hr time frame. Then bring stop loss to break even once we meet the minimum requirements. If price comes back down I look for a better entry and repeat the same approach of looking for buy's, if price accelerates higher I am in a phenomenal buy.
Below an example of such a straight forward long entry: