Hi CT,
Here is my coming swing trade, expecting a small retrace first to $8450 area, to confirm the bullish divergence that currently we've (1h and 4h timeframe). And thus, improve the risk-reward ratio.
Important to consider:
0. BTC still in the ascending channel, since March.
1. The orange line is the current stronger support, build from previous tops and bottoms. It can be an entry zone, for those who use small leverage.
2. Take into consideration the current "kind of" triangle pattern that makes as support and resistance, if it brakes to the upside wait for confirmation.
3. Bullish divergence 1h and 4h time-frame
4. Nearly facing the down part of the ascending channel. If we can reach that area is where the best risk-reward ratio is it, with the stop loss just below of it.
5. Expecting the number 5 of the Elliott impulse.
Waiting for the development and confirmations, but in target 1, I expect to take a 50%-75% profit and see how it develops for the rest to take profit.
If you like this setup, please hit that like and give a comment with your opinion or question!
Cheers!
Here is my coming swing trade, expecting a small retrace first to $8450 area, to confirm the bullish divergence that currently we've (1h and 4h timeframe). And thus, improve the risk-reward ratio.
Important to consider:
0. BTC still in the ascending channel, since March.
1. The orange line is the current stronger support, build from previous tops and bottoms. It can be an entry zone, for those who use small leverage.
2. Take into consideration the current "kind of" triangle pattern that makes as support and resistance, if it brakes to the upside wait for confirmation.
3. Bullish divergence 1h and 4h time-frame
4. Nearly facing the down part of the ascending channel. If we can reach that area is where the best risk-reward ratio is it, with the stop loss just below of it.
5. Expecting the number 5 of the Elliott impulse.
Waiting for the development and confirmations, but in target 1, I expect to take a 50%-75% profit and see how it develops for the rest to take profit.
If you like this setup, please hit that like and give a comment with your opinion or question!
Cheers!