HOT - buying the dip
Updated
we have a great RR here.
Entry at 0.017
Stop Loss below the swing low printed today
TP1 at the range high of 0.03.
TP2 at the fib 5 level of 0.06
not investment advice
Entry at 0.017
Stop Loss below the swing low printed today
TP1 at the range high of 0.03.
TP2 at the fib 5 level of 0.06
not investment advice
Note
-- Possible triangle in play on low time frame with decision time by 4 hours before days closing.
-- 4 hour candle shows healthy consolidation within the bearish channel. We are not out of the woods yet but i do think the correction is over and bulls have taken control.
-- daily candle is currently strong. Price action and with current alt market expect the daily candle to close at or above 2 cents.
Tomorrow could bring a green, red or doji candle. The trade is only invalidated after yesterdays low is taken out. A green candle and break of the channel would show
strong bulls have retaken control and a ready to contest the ATH.
If we see a doji, I would look for bullish consolidation on lower time frames.
With a red candle I would consider adding to the position. I do not see sub 0.018 likely.
Note
This BTC pull back has provided us with another excellent entry.
Most notably we have been able to come out of this with a higher low and higher high! This marks a change in the daily trend. Next we have a clear breakout from the channel.
Buy the dips and stick to the trade plan!
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