BTCUSD: Breakout played out, focus on EMA retest

Oct 2

Overview

• Yesterday’s Breakout Plan played out correctly, with BTCUSD continuing its bullish move.
  
• The market remains in an uptrend, with no clear signs of reversal.
  
• However, price is currently trading far above the EMA, so it’s not ideal to chase entries here.
  

Trading Plan for Today

Primary Scenario:

• Wait for BTCUSD to retrace closer to the EMA and form a momentum consolidation zone.
  
• If confirmation appears (e.g. breakout through the short-term trendline), consider long entries in line with the trend.
  

Alternative Scenario:

• If BTC closes below the EMA with strong bearish momentum, a deeper correction is possible.
  
• In this case, stay cautious and wait for a new structure to form before re-entering.
  

You can refer to my previous analysis here:
https://www.tradingview.com/chart/BTCUSD/JnDsHKgM-BTC-breakout-trading-setup/
Please like and comment below to support our traders. Your reactions motivate us to do more analysis in the future 🙏✨

Daniel Miller @ ZuperView

Oct 3

Trade closed: target reached

The trade was successful. You can find my latest analysis here.