BTC is ready to take off. Great R/R trade.
Updated
Here I explain reasons to enter this long trade and show strategy with targets, stop loss and entry price.
Reasons to enter
1. Second retest of support. Very strong rejection.
2. Bullish RSI divergences on 4hr, 2hr, 1hr timeframes. Bears are losing steam.
3. Order book is too thick at 7,400 - 7600. We might not see these prices at all.
4. Selling volume is decreasing. On daily and 4hr
5. Wonderful R/R.
Strategy
Wonderful Risk/Reward Ratio = 3.68 or 7.83
Entry: around 7,950
Stop loss: 7,829
Target 1: 8,430
Target 2: 8,754
Trade safe fellas!
Reasons to enter
1. Second retest of support. Very strong rejection.
2. Bullish RSI divergences on 4hr, 2hr, 1hr timeframes. Bears are losing steam.
3. Order book is too thick at 7,400 - 7600. We might not see these prices at all.
4. Selling volume is decreasing. On daily and 4hr
5. Wonderful R/R.
Strategy
Wonderful Risk/Reward Ratio = 3.68 or 7.83
Entry: around 7,950
Stop loss: 7,829
Target 1: 8,430
Target 2: 8,754
Trade safe fellas!
Trade active
Moving my stop loss at the breakeven. Running riskfree now ;)
Related publications
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.