Bitcoin / TetherUS

Updated

Bullish but no good setup yet

I see 4 setups with similar R:R, in the order on the chart:
- long from pullback (aggressive)
- short from resistance (almost as good as a long play)
- long from previous support (probably safest bet)
- breakout play (aggressive)

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Notably we are at 0.618 fib which is significant enough to warrant some more bearish action

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Likely upside break as very bullish cup price action is formed after accumulation/consolidation

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Trade active

Very small position

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not a fantastic start :) as the trend line immediately got rejected but see how it goes

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Correction: I meant the price got rejected by the trendline :)

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there she goes

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hard push back from bears

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The hourly close is ominous but sticking with the plan, its a small position anyway.

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Trade active

My SL was actually not hit as the Stop (yellow) did not trigger the Limit order overnight.

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New resistance is at 9990, but price action and momentum remains bullish

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Also notice the turning

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Trade closed: stop reached

Cracked under heavy volume SL hit

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This will probably go lower, I would probably wait to see 9600s before any new long play.

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Descending triangle confirms my bias towards more downside

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Oh boy I wish I traded this short ;)

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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.

Also on:

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.