After analyzing BTC, I think we are left with two main scenarios. We we either dip down to 33-32k levels, or start our journey to 52k then blast off.
Depending on your risk tolerance and strategy is how you can play the scenarios. I plan on placing a spot limit at the 33,803 level with a 31,905 SL. Also playing a scalp at 32,299 with the same SL.
I'm expecting previous lows to be taken out before we move higher so the spot play is just to make sure to get in the market, but I feel that the 32,299 play will be what happens.
$29,600 is still not out of the question, but I dont think we get that low.
BTC spot 33,804
SL: 31905 (5.62% risk to SL)
TP up to 56,300
11.85 RR
BTC Scalp Long 32,299
SL: 31,905 (1.22% risk to SL)
TP up to 41,625
23.67 RR @here
Depending on your risk tolerance and strategy is how you can play the scenarios. I plan on placing a spot limit at the 33,803 level with a 31,905 SL. Also playing a scalp at 32,299 with the same SL.
I'm expecting previous lows to be taken out before we move higher so the spot play is just to make sure to get in the market, but I feel that the 32,299 play will be what happens.
$29,600 is still not out of the question, but I dont think we get that low.
BTC spot 33,804
SL: 31905 (5.62% risk to SL)
TP up to 56,300
11.85 RR
BTC Scalp Long 32,299
SL: 31,905 (1.22% risk to SL)
TP up to 41,625
23.67 RR @here