I entered a long position on BTC at 96,003.8, buying at the bottom of a 1H/4H order block. The confluence between these timeframes suggests strong bullish potential, as price often reacts positively when multiple timeframe order blocks align. My Take Profit (TP) is set at 97,151.0, while my Stop Loss (SL) is at 95,452.0.
Despite the bullish setup, I’m cautious because there’s a 4H Fair Value Gap (FVG) sitting right above my order block. This FVG could act as short-term resistance, limiting upward momentum. Given this, I’ve opted for a conservative TP to secure profits without overexposing myself to potential reversals.
Despite the bullish setup, I’m cautious because there’s a 4H Fair Value Gap (FVG) sitting right above my order block. This FVG could act as short-term resistance, limiting upward momentum. Given this, I’ve opted for a conservative TP to secure profits without overexposing myself to potential reversals.
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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.