This is my plan/bias for trading this week
I always do this to get some minor bias, so I can look for set ups
Looking at current conditions, I will take profits (if being right ofcourse) at my initial profit level of 7900
Yellow frame is a sort of guide line for me to start hedging and accessing future possibilities of possible trend reversal
Red frame is where I...
Stop loss 6400
Profit level: 7900
price found support around 7k
volume is bullish
rsi and macd bullish divergence
Explanation for the trade:
If the price moves up we want to catch the move, btc seems unstable and MM is making the market very hard to trade but if he doesnt want to kill
the market for another 2 years he better put some doe in...
If price breaks 7050 level for at least 15min the trade is active.
Reasons: bullish volume, rsi and macd bullish divergence, POC well above our swing high
stop 6350,profit level 8000
We established good support at around 7k, so if the price wants to go higher we naturally want to be in that move up.