BitcoinLong
Potential Long Setup @BTC
The recent Indecision resolved itzself to the upside , but the following rallie stopped just shy of the Pink supplyline
and formed a lower high , however the decline got rejected @865 the former MP of the indecison , this is a sign of strenght and adds to the allready strong background ,
therefore a long setup like the follwoing would be justified :
Entry @ Break of 890.5
SL @ 864.5
Trade Management :
we have to manage the position tight as we have several trouble areas ahead like
the swing high (LH) @920 , the broken blue TL , aswell as the Pink supplyline and the 900 level
thefore any bearish reaction near those levels or a Lower High should lead to a manual elimination of the long position .. to avoid Chop !
however should we clear those trouble areas , this would lead to a retest of 1000 ..
and formed a lower high , however the decline got rejected @865 the former MP of the indecison , this is a sign of strenght and adds to the allready strong background ,
therefore a long setup like the follwoing would be justified :
Entry @ Break of 890.5
SL @ 864.5
Trade Management :
we have to manage the position tight as we have several trouble areas ahead like
the swing high (LH) @920 , the broken blue TL , aswell as the Pink supplyline and the 900 level
thefore any bearish reaction near those levels or a Lower High should lead to a manual elimination of the long position .. to avoid Chop !
however should we clear those trouble areas , this would lead to a retest of 1000 ..
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