BITCOIN TETHER BINANCE 1H BOTTOM ROTATION TRADE

Step #1: Wait until Tether Cryptocurrency price moves in a horizontal consolidation
After a strong bearish trend wait until the market starts to develop a horizontal consolidation where the price moves back and forth without any clear direction. We need to see a perfect horizontal consolidation as part of the bottom rotation setup.
The consolidation is the first price structure that needs to be satisfied for being able to catch a falling knife.
During these times of consolidation when the cryptocurrency price moves back and forth the institutional money accumulates their positions.
However, before the trend reversal to happen, the smart money will deploy one more trick to fool the retail traders. See below:
Step #2: Wait for a fast breakout (clear-out of stop losses) of the support level
Right before the reversal to happen, you’ll often time notice a false breakout below the consolidation support level. There is no conspiracy that stop hunting do happen in all markets and this trade setup clearly emphasizes this aspect.
Two things happen when we break away from this consolidation, and both things are adding confluence to the bullish case scenario:
The stop losses of those who got long off of support will get triggered.
New traders will short the market because of the downside breakout.
Step #3: The breakout need to be faded at the same speed as the Tether Cryptocurrency Price dropped.
The key characteristic of this reversal setup is that we need to see a quick rally after the initial support false breakout. The false breakout followed by the quick recovery should develop a “V” shape type bottom.
Step #4: Buy at the first close above the broken support level. You can have a second entry once we break above the top of consolidation.
You can buy once the cryptocurrency Tether price closes back above the broken support level. You can initiate a first small position and buy cryptocurrency Tether once we close back above the previous support level.
It’s always nice to buy cryptocurrencies at the bottom and see it shoot up.
It kind of depends on your trading style and risk tolerance how you manage your trades, but we always recommend on the first initial position to only allocate a low amount of your trading capital. You have to keep in mind that the reversal is completed only after we have a break in market structure and subsequently a breakout of the top of the range.
Once we see a break to the upside of that sideways action, the reversal has been confirmed and you can consider this to be a swing trade. Generally, with this situation you can close the initial trade so we can have a risk-free trade.
Step #5: Place Protective Stop Loss below the “V” bottom and the Second SL below the Consolidation Bottom
The ideal place to hide your protective stop loss is few pips below the “V” shape bottom. For the second entry use a protective stop loss below the consolidation support level.
Also, since the first trade is closed once the consolidation top is broken we basically ensure an almost risk-free trade on the second position. We’re going to use the profits made on the first trade to ride the trend reversal.
Step #6: Take Profit equals two times the consolidation price range.
We use a simple dynamic take profit strategy.
We simply measure the consolidation price range, multiply it by two and project that number to the upside to determine out take profit. The easiest way to visualize your take profit level is to simply draw a box around your consolidation and copy paste that box two times to the upside.
Note** the above was an example of a BUY trade using the Tether trading strategy. Use the same rules for a SELL trade – but in reverse
If you want to read the complete strategy PM me.