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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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.
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.