On the Daily chart, this is the potential long setup I mentioned in my Telegram group yesterday. If $8,200 is broken which is not yet confirmed, but looks likely, then this long trade may become active. The cryptocurrency market has been very volatile over the months of April and May so this is why I am staying on the Daily chart as opposed to the H4 as well as...
Bitcoin setup on H4. Smaller risk on this trade because of the high risk of volatility we are currently experiencing in the market.
Entry is at the 78.6% Fib retrace and trendline with stops at the 110% Fib and target 1 at -0.27% which is $7210.
