BTCUSD Long

Price is now above the previous trend line on the 4h/1d chart and has retraced back to it.

It's a good opportunity to try to enter long for a mid-term long trade.

Note that the market is still bearish. I'll therefore try to move the stop to breakeven as soon a price reach 7250.

Trade active:

We just got an good impulse up. Given the strong bearish trend, I'm moving my stop right below the new bullish candle on the 30 min chart around 6650.

Comment:

Let's be reasonable : a bear flag is clearly building. Which mean chances are that price should break down. But who knows?

To minimize risk, I'll continuously move my stop a couple pips below the bottom trend line. And go short if price breaks down.