I don't think the alt run is over yet, though I am wary of any big moves on BTC that could shake things up. So as always in this bear market, I'm keeping a tight stop-loss and booking profits quickly.
As you can see from the chart, we're in a support region with a lot of confluence on the 12H:
- 786 fib line
- Strong resistance-turned Support around 209 sats
- 55EMA on 12H
High probability and solid R/R. Entering on a higher low on the 1H. Will update on how this trade plays out.
Entry: 206-210 sats
TP: 230 sats (11%)
S/L: 201 sats
R/R: 3.8
As you can see from the chart, we're in a support region with a lot of confluence on the 12H:
- 786 fib line
- Strong resistance-turned Support around 209 sats
- 55EMA on 12H
High probability and solid R/R. Entering on a higher low on the 1H. Will update on how this trade plays out.
Entry: 206-210 sats
TP: 230 sats (11%)
S/L: 201 sats
R/R: 3.8
Note
Here's a very similar setup on GRS. Feeling very comfortable entering both of these trades if I see some support confirmation here.
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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.