Stop Loss: $3919
Keeping it simple with the BTC long - buying the previous level of resistance that was holding price down before the breakout. This level also coincides with the OB that sent price crashing down in January (shown in green)...
Looks like we will continue upwards based on the strength and structure of this rally, also I...
Stop Loss: $147.74
Tons of buy orders waiting to be triggered above the 'x's in the form of stop losses and breakout buys
If we can move back down to the previous resistance and load up I think there's a strong chance we start moving to $200, with $170s being the first pitstop.
So the market has created quite the setup for a sweep above the current highs into the 6H OB that sent price rushing down previously... I think many have been itching to short this whether it be from revenge trading (they missed the move up) or over trading and stuck in a bearish mindset... The market won't let them get away with such an easy entry in my opinion....
Bitcoin is a bit overextended and is showing signs of bearish divergences at high time frame resistance. There are equal lows that look ripe for the taking just above $3.8k that I believe we will head down and take out before moving higher.
High time frame first - 3D is getting smacked back down from the consolidation that lead to the last leg of the sell off in 2018. Looks ready to close as a swing high (retrace looks likely).
Low time frame on Bitmex - clear support level/neckline is our entry, there is an OB above that which should offer a bit more resistance before our stop loss is hit. That...
$3.5k has been pivotal throughout the whole new year, rejecting and supporting price every time it is touched. I expect the same to occur to the upside after decisively blasting above it and want to see it act as support, sending price above $3.7k.