It's retesting the demand zone -- very common pattern for intraday trading btc. High probability. SL below the demand zone -- ladder buys for optimal entry and reduced risk
Order cancelled:
I exited this trade at breakeven. I reevaluated and don't like it anymore. The demand zone has been tested already too much -- it might just fall through it
Comment:
well... profit target was reached - but my caution was rational -- it dumped immediately after reaching my target, meaning that it was a short squeeze rather than an organic move upwards. hopefully someone stuck with it and profited :)
Comment:
Final update: if we exclude the crazy wick that first reached target price and then dumped, this idea fulfilled itself completely. Unfortunately I didn't profit from it :)