CRYPTO of the week BTCUSD entry triggered so what is next?
Updated
BTCUSD 1H ASIA UPDATE - 13/05/2018
Sequence from 9,393.00 high ended at 8,208.81 and while above this level, we should expect uptrend to resume. However, as long as below 9,393.00 and more importantly 9,948.98, there is a possibility for a larger correction of the cycle from 6,427.16 low.
Short-term, I will be looking at a break above 8,652.80 to see 8,708.97-8,8132 and protect my position from 8,418.64.
Invalidation level to the upside is 7,816 (my stop for now) but true invalidation is 6,427.16/
Invalidation level to the downside is 9,948.98. A break above this level would trigger a bullish sequence from the lows (in 4h) and any pullback in 1h would be a buy (if you missed the 8,418 mark)
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 13/05/2018-19/05/2018, I propose BTCUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Sequence from 9,393.00 high ended at 8,208.81 and while above this level, we should expect uptrend to resume. However, as long as below 9,393.00 and more importantly 9,948.98, there is a possibility for a larger correction of the cycle from 6,427.16 low.
Short-term, I will be looking at a break above 8,652.80 to see 8,708.97-8,8132 and protect my position from 8,418.64.
Invalidation level to the upside is 7,816 (my stop for now) but true invalidation is 6,427.16/
Invalidation level to the downside is 9,948.98. A break above this level would trigger a bullish sequence from the lows (in 4h) and any pullback in 1h would be a buy (if you missed the 8,418 mark)
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 13/05/2018-19/05/2018, I propose BTCUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Trade active
A bit early to create risk free position from 8,418.64, so have to be patient.From here, either end of cycle from the low, either acceleration (don't sell the yellow box)
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BATBTC is on the right side
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