Bitcoin Back To Key Level | Trend Change Confirmed
Updated
In this idea, we're looking at the BTCUSD price in the 4-hour timeframe. The price presumably found its bottom at the $15000 to $16000 range.
After quickly getting back to the Key Level, located at $20000, the price even managed to climb above this resistance.
The top of this movement was found at the beginning of February with a high at $22400.
The trend change was first signaled by a change of structure (from higher highs to lower highs) as well as break below the MA 50 & 200.
Now the BTCUSD price is aiming for the key level again.
How I trade BTCUSD:
Trade #1 - Short Term
Trade #2 - Mid Term
If you don't have the time to manage this trade by yourself, feel free to check out my bio below this idea.
Please always use risk management and keep an eye on the news :)
Cheers,
Ares
After quickly getting back to the Key Level, located at $20000, the price even managed to climb above this resistance.
The top of this movement was found at the beginning of February with a high at $22400.
The trend change was first signaled by a change of structure (from higher highs to lower highs) as well as break below the MA 50 & 200.
Now the BTCUSD price is aiming for the key level again.
How I trade BTCUSD:
Trade #1 - Short Term
- Position: (Long)
- Duration: 1-7 days
- Entry 1: 21500
- Entry 2: 21400
- Stop Loss: 21300
- Target 1: 21700 (take 30% profit)
- Target 2: 21850 (take 50% profit)
- Target 3: 21930 (take final profit)
Trade #2 - Mid Term
- Position: (Short)
- Duration: 1-4 weeks
- Entry 1: 21800
- Entry 2: 21900
- Stop Loss: 22250
- Target 1: 21300 (take 30% profit)
- Target 2: 20900 (take 50% profit)
- Target 3: 20500 (take final profit)
If you don't have the time to manage this trade by yourself, feel free to check out my bio below this idea.
Please always use risk management and keep an eye on the news :)
Cheers,
Ares
Trade active
Trade closed: target reached
Target 1 & 2Trade closed: target reached
Final target reached. Now preparing for a short position, depending on how to market is going to behave within the next 24 hoursComment
$22200 is acting as a resistance at the moment. Will see if it breaks. Either way i'm going to take a positionComment
First sign of a rejection. Looking for a confirmation & entry afterwardsTrade active
Short as per Trade #2Comment
You can check my trades in the link in my bio (Tab: Current Positions)
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