Long

BTC Scalp using ABCD

Updated

IMO Could make for a good scalp with ABCD pattern in play. I'd watch the VWAP crossover. Couldnt add the RSI on chart but oversold, with inc. MACD leading to crossover could set up nicely when looking at ABCD pattern.
Will likely trade into ALT that has inverse relation with BTC pair if trade fails.

Trade closed manually

Exited out early with 3.3% profit since I can't trade tonight.
The pattern still holds true it seems but since this was a scalp i would have taken any profit for the next few trading days. Not bad for a few hours work. Cheers everyone

Note

Pattern failed
But new opportunities could present itself with 8k level being a major support line. A true break of this retracement level could signal for significant bearish return to 6.8 or even lower to 4.7. Hard to tell but seem depth chart could provide insight to other players strategy.

Something I constantly do is determine whether my positions are one based on emotions or logic. If I can't quickly provide a logical reason, then I demand myself to exit or develop a solid long term plan for the asset. Otherwise, I have no business playing in it.

Hence why I don't play with low-cap coins.

CryptoMARC07

Also on:

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.