BTC Long Scalp
Updated
Have not posted/updated an idea in a while, this is a long scalp I decided to initiate. Its mainly based off simple long term trendlines rather than technical indicators and advanced fundamental analysis. Indicators do look good for the upside.
Long: 33'900
SL: 32'900
TP 36'000
Risk:Reward = ~1:2 (low risk)
Long: 33'900
SL: 32'900
TP 36'000
Risk:Reward = ~1:2 (low risk)
Note
IF YOU ARE NOT IN THIS POTENTIAL MOVEMENT ALREADY - WAIT FOR CONFIRMATION (high volume and candles closing green after bouncing off support)If the price breaks ouf of the wedge on volume I will consider increasing the TP.
SUPPORTS:
> wedge uptrend (medium support)
> 33'500 previous support zone (low support)
> 33'100 previous support zone (medium support)
RESISTANCES:
> 35'000 (low resistance)
> wedge downtrend (medium resistance)
> 36'000 medium term HH (medium resistance).
Any breakdowns of the wedge will be considered bearish. Position will not be changed until SL is hit however.
Trade closed: target reached
40k spike triggered TP
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