BITCOIN - SHORT TERM BULLISH

Hello everyone! Wellcome to my first ever idea on Trading View.

BITCOIN has been quite confusing lately but I can assure you it is not that complicated.

Looking at the 2H chart, we can see a bull flag inside a BIG bear flag. But in this post, I will not talk about long term view. I usually only do day trading or swing trading because patience really isn't my strong suit. Currently, BITCOIN is moving inside that triangle and it will take 1 to 2 days to breakout of that triangle. It could go both ways but I think the chance of going up is 60%.

So in a few hours, I think the price will go down to the 6k6 level but it will bounce up quickly to the upward side of that triangle.

I have opened a SHORT position:

Entry: 675x

Target: 66xx

Stoploss: 6777

I will update this post when my position close.

Trade closed: target reached

Comment:

As predicted, the price fell down to 667x and then quickly bounced up. I closed my trade at 6685 because I don't want to be too greedy. Right after that, I actually opened a LONG position at 6685 and then closed the trade at 6750. So double WINS for me!

Now I think BITCOIN will fall back to the lower trendline of that triangle for a retest and then will move up to the upper trendline to test the 6k8 level.

Please also check my MID TERM view for BITCOIN here:

Comment:

Staying flat for now. Will open my LONG when BITCOIN fall back to 6k6 level. Target 6k9