BTC long setup
Updated
Entry: $25600
Stop: Daily close below $24600
Target: $32000
Reasons:
#0: Go against Binance.us FUD
#1: Static support area in ~25k (the previously broken resistance zone)
#2: 50% retracement level from the banking crisis to the 31k high
#3: The last chance to return the lagging span (momentum) above the cloud
#4: Potential falling wedge pattern
#5: Potential double bottom pattern in 4H
#6: If the price drops below $24600, the current uptrend ends
Stop: Daily close below $24600
Target: $32000
Reasons:
#0: Go against Binance.us FUD
#1: Static support area in ~25k (the previously broken resistance zone)
#2: 50% retracement level from the banking crisis to the 31k high
#3: The last chance to return the lagging span (momentum) above the cloud
#4: Potential falling wedge pattern
#5: Potential double bottom pattern in 4H
#6: If the price drops below $24600, the current uptrend ends
Trade closed: target reached
I'm closing this long position with ~21% profit on 31k.I will watch the price action in the auction zone, around 30k~31k, and see what to do next!
Also, there is upcoming resistance around 32k.
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