Aslong as BTC is above its daily 50ema I remain on the the bullish side. A break below the 50ema on the daily chart could lead to an end in this bullish trend.
Therefore, purely in a risk to reward basis, I like the following;
Long BTC at 10-11k (closer to the 50ema the better)
Stop Loss below the 50ema (circa 9.5k)
Target 1 - 13k
Target 2 - 14k
Target 3 -...
BTC has broken its short term timeframe wedge pattern indicating a potential test of the larger timeframe wedge pattern which coincides with previous lows (3100-3200).
From a mathematical perspective and using the monthly Bvol (from Bitmex) to calculate the weekly 1 and 2 standard deviation expected moves, the levels show the following;
1 standard deviation down...