Hello, basic setup here is Ichimoku on the hourly.
BTCUSDT found support at 42,000 area.
As of 11:37 EST BTC is looking to break the "resistance cloud" on the Ichimoku.
If this breaks we are looking for a TP that would be close to the next resistance or so.. which is on the 44-45k area.
This is a little quick trade if you entered at support at the 42,000 area and was able to limit buy at that area.
My risk on this trade would be below 40,000 if BTC touches that area/number I will be looking to get out at strength.
BTCUSDT found support at 42,000 area.
As of 11:37 EST BTC is looking to break the "resistance cloud" on the Ichimoku.
If this breaks we are looking for a TP that would be close to the next resistance or so.. which is on the 44-45k area.
This is a little quick trade if you entered at support at the 42,000 area and was able to limit buy at that area.
My risk on this trade would be below 40,000 if BTC touches that area/number I will be looking to get out at strength.
Comment:
BTC broke the cloud and is looking to the upside.. we could TP out or ride this more. Probably TP out 50% of position then ride out the rest.