Upswing from 8800 to 11700 created a massive rally which eventually consolidated near 9200 levels during a few days which constituted a bullish flag. The breakout volume is more than twice the average BTC volumes for the past few sessions which is makes this long a safe bet. To add to it, it just crossed both EMA20 and EMA40 during the breakout, making this a textbook buy. If you have missed the train, we might see a retest to 10100, so placing an entry there is suggested. For the bullish flag the stop loss is the prior low, which is 9253 in this case, right beneath the MA150, which I believe won't hit. Make sure to trail your stop loss once it consolidates above 10200 levels to make sure you don't miss out any profit.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.