BITCOIN/USDT
Direction: Long
Asset: BTCUSDT.P
Entry Zone: 26900 - 26427
Take Profit 1: 27799
Take Profit 2: 29573
Stop-Loss: 26034
Entry Conditions:
Short term break of structure which could see us hit TP1 confirmed but if we close above2688 we should confirm a break in the swing structure which could see a run towards TP2.
Lots of rumours swirling about ETF acceptance which could be a major catalyst.
Stop loss is in there below order block as BTC has been threatening a breakdown all month, extreme weather events have affected power supply in Texas (home of many major BTC miners) so there is an possibility of a sell off to cover shortfall while mining production is low. It was a miner sell off which triggered the august correction however so they may have already created their operating revenue. I'd suggest minimal leverage or spot for this reason.
Direction: Long
Asset: BTCUSDT.P
Entry Zone: 26900 - 26427
Take Profit 1: 27799
Take Profit 2: 29573
Stop-Loss: 26034
Entry Conditions:
Short term break of structure which could see us hit TP1 confirmed but if we close above2688 we should confirm a break in the swing structure which could see a run towards TP2.
Lots of rumours swirling about ETF acceptance which could be a major catalyst.
Stop loss is in there below order block as BTC has been threatening a breakdown all month, extreme weather events have affected power supply in Texas (home of many major BTC miners) so there is an possibility of a sell off to cover shortfall while mining production is low. It was a miner sell off which triggered the august correction however so they may have already created their operating revenue. I'd suggest minimal leverage or spot for this reason.