I posted on a trade idea for Bitcoin around the 60k area. Here we are, so what now? Do I just buy some bitcoin? Do I take the trade here?
The answer is NO!!
Need to see the market stabilize, find support and look for a setup. This is where we can start taking a look at the daily candles and look for a setup.
What am I looking for? Well a pinbar out of this area, maybe an outside candle or some other setup that provides some evidence that Bitcoin is a long here.
So again, we need to be patient and let the market come to us, not rush in and take trades because it hit some magical Fibonacci level!
The answer is NO!!
Need to see the market stabilize, find support and look for a setup. This is where we can start taking a look at the daily candles and look for a setup.
What am I looking for? Well a pinbar out of this area, maybe an outside candle or some other setup that provides some evidence that Bitcoin is a long here.
So again, we need to be patient and let the market come to us, not rush in and take trades because it hit some magical Fibonacci level!
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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.
Related publications
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.