1) BTC dumped huge from all time highs
2) Then went into a trading range where it tested the lows, but refused to dump further. Notice the contracted channel.
3) Range expansion to the upside puts us back on an uptrend!
BTC looks weaker than ETH here as I point out in the related ideas where I'm already long ETH, but it's still good to have exposure to BTC as the public knows about it more than ETH or other altcoins.
Entry: immediate
Stop: $1,400 below entry
Target: stick with it until the trend changes (my preferred), or use a trailing stop
The testing results are from 1/1/2020 to current: if you use the 1% risk rule, you would've made (40 trades * 45% win rate * 2.8 profit factor * 1%) = 50%. 2% risk = 100% gain, etc.
Trade well, manage your risk.
2) Then went into a trading range where it tested the lows, but refused to dump further. Notice the contracted channel.
3) Range expansion to the upside puts us back on an uptrend!
BTC looks weaker than ETH here as I point out in the related ideas where I'm already long ETH, but it's still good to have exposure to BTC as the public knows about it more than ETH or other altcoins.
Entry: immediate
Stop: $1,400 below entry
Target: stick with it until the trend changes (my preferred), or use a trailing stop
The testing results are from 1/1/2020 to current: if you use the 1% risk rule, you would've made (40 trades * 45% win rate * 2.8 profit factor * 1%) = 50%. 2% risk = 100% gain, etc.
Trade well, manage your risk.
Note
BTC started to make solid headway, and then turned down. The trend still remains intact, so we stay in the trade.Trade closed: stop reached
Trading is surviving to fight another day. Trade cut.
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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.
Related publications
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.