Entry: We have a sort of consolidation happening, if we break above that we could get a nice pop up.
Stoploss: We want to get the stoploss as tight as possible while still being reasonable. If we break the blue trendline the chances are we are heading down. Having a tighter stop will give a better risk to reward. The idea here is to take a slightly higher risk on a smaller stop but for that to be payed for in the long run by the much higher reward that is possible on these bitcoin moves.
Exit: We will move a stop-loss up under the swing lows of the 4H timeframe. The idea is to ride the trend as long as possible.
Things I'm considering: - We have an overall uptrend on bitcoin right now. - On the 4H timeframe we are consolidating and holding above the moving averages. - We have already broken higher above the last consolidation - breaking the structure of the downward move. - A break about the consolidation would create a reversed head and shoulders pattern.