BTCUSDT DAY CHART LONG PLAN 11/6/2023
Updated
From Daily perspective, BTC currently doing retracements after created Higher High on 14 April.
Now BTC is creating Higher Low and also Retesting Support 25600 - 23800 this range. (Resistance become Support).
LONG Plan
Entry 1: 25600 (30 - 50% of your position)
Entry 2: 24000-23800 (The rest of your position)
CL: 3-5% Below Orange Trendline, don't put too close so that your order won't get kick out by Wick.
TP 1: 30K
*The rest wait for my updates.
* Need use Cross Leverage ya, If you use Isolated Leverage with High leverage, can't afford the drawdown.
But if you use Cross Leverage and no put Cut Loss, you will lose your entire future wallet when hit Liquidation price. Do calculate your risk before entering this trade.
This is just my plan, not a financial advice.
#I Prefer Long BTC compare to ETH.
Now BTC is creating Higher Low and also Retesting Support 25600 - 23800 this range. (Resistance become Support).
LONG Plan
Entry 1: 25600 (30 - 50% of your position)
Entry 2: 24000-23800 (The rest of your position)
CL: 3-5% Below Orange Trendline, don't put too close so that your order won't get kick out by Wick.
TP 1: 30K
*The rest wait for my updates.
* Need use Cross Leverage ya, If you use Isolated Leverage with High leverage, can't afford the drawdown.
But if you use Cross Leverage and no put Cut Loss, you will lose your entire future wallet when hit Liquidation price. Do calculate your risk before entering this trade.
This is just my plan, not a financial advice.
#I Prefer Long BTC compare to ETH.
Trade active
Note
For Our long order, there are some resistances you need to pay attention before price go to our tp point.
Resistance 1: Blue trendline (27400)
Resistance 2: 28700 +-
Resistance 3: 29800 - 31000 (If price can break here then have chance to create
higher high, if not, will form double top.
*Move SL to Breakeven when resistance 1 break. Add margin when breakout (we only entry 30-50% of our margin bfr) . Calculate your average price , make sure it below Resistance 1 (don't too near)
Note
SL Move to Breakeven or Below Blue Trendline (Don't too close)
Can Add margin when price retest Trendline
Note
Can secure 25%-50% Profit at 30k. Dont tp all your position, this pump looks very strong, have chance to create higher high (aim 33k- 35k)
Note
(1). If Price can create higher high, 1st Target aim 33500 -35000 Resistance of Parallel Channel.
(2).When reach there, observe small time frame have divergence or any price action reversal pattern or Fakeout (Price breakout Parallel channel then fail and back to Parallel Channel).
(3).If none of these situation happen, aim 35800 there and wait (2) happen
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.