I hope you guys made good profits for the past few days as BTC bounced back exactly at the 1st diagonal and horizontal support as I posted a few days ago, BTC at $6700. If you have missed my previous analysis, Please check the link below as it also gives you an idea about how to plan out for future trading strategy.
Today, I wanted to share this entry point as I captured the change of velocity.
BTC failed to break above $7800 area but per 1hr candle, I noticed that it's velocity has been changed and okay to jump in.
As a trader, I don't care what the crowd (or media) says. It doesn't matter they call it scam or not. As long as the market exists and It allows me to buy and sell, I can make profits. Media, reputation of BTC (from ordinary people's perspective), and fud is none of my business. Especially, when I approach as a trader, not investor. All I care about is whether my buy criteria is met or not. This would be a right mindset to survive in this game.
Profit- Loss ratio : 1 (per 1st profit target) If it breaks above, then next target is $7530
Minimum probability to make profit from this trade : 50%
Thanks,
After all, only Traders who have right strategies that penetrate markets will survive, not people trading with luck or without criteria.
ultimate btcusd daily chart update trade plan bulls/bears sl/tp.