-Bullish MACD divergence on 4h candles (very bullish indicator)
-Completed 5-3 sequence providing decent risk to reward (more on this later)
-Primary price target is 1:1 extension at 24.5k
-If BTC breaks through the 1.1:1 extension then a 1.618:1 extension all the way to nearly 33k is possible
-Stop loss at 10.6k below C
Not necessarily an entry now considering the risk to reward ratio is currently not very good. An entry after the retracement on this first wave will likely be a better entry. (I will probably update this idea when the time comes)
-Completed 5-3 sequence providing decent risk to reward (more on this later)
-Primary price target is 1:1 extension at 24.5k
-If BTC breaks through the 1.1:1 extension then a 1.618:1 extension all the way to nearly 33k is possible
-Stop loss at 10.6k below C
Not necessarily an entry now considering the risk to reward ratio is currently not very good. An entry after the retracement on this first wave will likely be a better entry. (I will probably update this idea when the time comes)
Note
s3.amazonaws.com/tradingview/snapshots/c/COYeyl8G.pngMuch better entry than before
Order cancelled
Counted waves incorrectly. I'm gonna post a new idea later with a bearish outlook, at this point trades closed up a decent scalp from 12k
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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.