BTCUSD has deviated the lows, reclaimed and retested 25200 s/r level. i previously had a short from here expecting more lows and price around 22k, however would of silly to fade the news of the most powerful asset manager in the world. So when i heard the news i cut the trade.
Looking for a solid reclaim and retest of s/r level at the red line to enter into some longs. Who knows how long news like this will last, but if anything has the chance to validate the crypto industry, i would say this is it. There is also a daily 21 moving average at this level, that will act as a resistance.
Looking for target around the yearly highs.
If price is unable to break through this s/r level, or deviates above and underside retests then i will once again look for shorts. However im now i bit more weary of shorts, we have had some reasonably massive FUD to do with the SEC and binance, coinbase etc. which has been unable to cause a capitulation candle.
Looking for a solid reclaim and retest of s/r level at the red line to enter into some longs. Who knows how long news like this will last, but if anything has the chance to validate the crypto industry, i would say this is it. There is also a daily 21 moving average at this level, that will act as a resistance.
Looking for target around the yearly highs.
If price is unable to break through this s/r level, or deviates above and underside retests then i will once again look for shorts. However im now i bit more weary of shorts, we have had some reasonably massive FUD to do with the SEC and binance, coinbase etc. which has been unable to cause a capitulation candle.
Trade active:
beautiful, has broken above marked s/r level, currently retesting on the 4h, i'm not 100% convinced on 4h retest, so just smaller position added long here.
if we end up deviating back below redline, i will cut position, and come back to it once its a little clearer.
if we end up deviating back below redline, i will cut position, and come back to it once its a little clearer.
Comment:
going well! messed around the s/r level for while but have had a solid breakout eventually. potentially will retest, but should head towards 27480 level now. i will expect a little resistance around that area, however think we break through and head for yearly highs.
Comment:
you love to see it, easily cleared 27480. yearly highs inbound. more super bullish news regarding, citadel, db etc. a confluence of new capital entering the market and legitimising BTC. will not be fading this anytime soon.
Comment:
safe to say this is going absolutely swimmingly. expected s/r zone at 29k. could expect some pullback to 28.3, but we'll see.
Trade closed: target reached:
there we have It. been up only to yearly highs, did not expect that. well done to all who agreed with this idea. now back to the drawing board to look for new setup.