BTCUSD: Tell me what you all think
Updated
Hi All,
Hope all your trades are going well.
It's all in the chart.
Focus on the trend, look out for the Downtrend.
Remember Sell rallies.
BTC attempted 7600 and was rejected.
Please look at the RSI.
The trend shows - SHORT BTC
We are risk managers and we should always do our best to protect our capital.
BTC needs consolidation period to make higher lowes before we can attempt 7600.
Hopefully BTC can break the resistance to make higher lowes when retrace.
Always have the following checklist before entering a trade.
1. The Trade setup 2. The Entry 3. Initial Stop Loss
4. Exit and Trailing Stop 5. Your capital size you are willing to risk on the Position
Keep in Mind when trading: Don't be greedy or use Trailing Stop Loss.
3-5 Bar Declines: it's an indicator to - Buy
3-5 Bar Increase: it's an indicator to - Sell
Hope this chart was helpful to you all. If you all have questions feel free to ask or comment in the comment section below.
Be sure to Follow me for future charts, like this post if it was helpful, and thank you all.
Happy trading People...
Hope all your trades are going well.
It's all in the chart.
Focus on the trend, look out for the Downtrend.
Remember Sell rallies.
BTC attempted 7600 and was rejected.
Please look at the RSI.
The trend shows - SHORT BTC
We are risk managers and we should always do our best to protect our capital.
BTC needs consolidation period to make higher lowes before we can attempt 7600.
Hopefully BTC can break the resistance to make higher lowes when retrace.
Always have the following checklist before entering a trade.
1. The Trade setup 2. The Entry 3. Initial Stop Loss
4. Exit and Trailing Stop 5. Your capital size you are willing to risk on the Position
Keep in Mind when trading: Don't be greedy or use Trailing Stop Loss.
3-5 Bar Declines: it's an indicator to - Buy
3-5 Bar Increase: it's an indicator to - Sell
Hope this chart was helpful to you all. If you all have questions feel free to ask or comment in the comment section below.
Be sure to Follow me for future charts, like this post if it was helpful, and thank you all.
Happy trading People...
Note
Next Target Uptrend to 8417 or Downtrend to 6800.
40/60 split Especially if there is no ETF.
We are currently at low levels. Strong Solid Support @ 5800 if BTC goes into Freefall.
Don't forget why you got into the crypto sphere. Good sentiment but need retracement.
Buy the pull backs if you believe in the projects will last the next 5yrs for Long.
Remember alot of people are going to sell when they break even.
I still firmly believe BTC is going to make higher high on it's all time high.
Remeber in trading there should be No Objectivity.
There are only three trend which could occur within any market.
Not Particularly based on trendline, instead it's base on the trend in general which are.
Uptrend: Higher highs and Higher lows
Downtrend: Lower highs and lower lows
No Trend: Horizontal or sideway pattern
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