Capture the potential .618 retracement of BTCUSD with a 4:1 risk to reward ratio. I do not recommend putting a large percentage of your worth into a risky trade because this one is relatively risky with an around 5% loss potential. Perhaps only put in half because the risks in crypto are real and that means risk management is more important than ever before. As we can see the RSI has moved higher with acceleration and BTC is retesting really strong downsloping support. This is a potentially very effective trade just be sure to keep you losses limited. We're traders not gamblers.
Note
Enter this one now if you canNote
try to keep in line with 2% maximum lossNote
where I say stop loss I mean take profitNote
This maybe top. Let's protect our gains by tightening our stop loss and taking more profit.
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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.