So yesterday after a short liquidation we are witnessing a red market, Wanted to make an update regarding Bitcoin charts and we can pivot it to other coins as well since Bitcoin price is what drives the whole market, We are reaching the crucial Marco fibo line around 17700USD, this line has acted as a support for BTC 4 times thus it's a powerful support but we must prepare ourselves for the worst, in any case that price falls down this line and we see a confirmation( by confirmation I mean if it's not a fake breakout) it is possible that price could fall to 10K since there is macro descending triangle formed and the target for this pattern is 40%, So I suggest be careful with your trades.
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades
The strategy behind opening any position is to make sure your win/loss ration is 3/1 i.e TP should be 10% and your stop loss 3%
I suggest you do the same, so if you do 10 trades you only need 3 of them to be successful to gain a profit on your whole trades