Huge shark on the daily chart at a very real historical key level looking left. Locally showing an informal cypher-esque structure and looks to be confirming this level as support.
Super easy to manage risk here with a stop marginally below the D wave completion, sets you right under this insane level and gives a nice 3:1 RR targeting the top of the A wave which is confluent with the .786 fib node.
I'm not entirely confident that BTC is bottoming here and oscillators aren't giving an edge, but if this was a chart disconnected from crypto you'd be stupid not to take the shot given the R:R.
Super easy to manage risk here with a stop marginally below the D wave completion, sets you right under this insane level and gives a nice 3:1 RR targeting the top of the A wave which is confluent with the .786 fib node.
I'm not entirely confident that BTC is bottoming here and oscillators aren't giving an edge, but if this was a chart disconnected from crypto you'd be stupid not to take the shot given the R:R.
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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.