Here is the updated chart. We could have possibly had a CHoCH (Change of character) which would mean we need to clear imbalances down to the $39,500 level - Red line ..or it could have been a liquidity grab at $40,543 and we are headed to $42,424 before going short again. - Green line I think the red line is the more likely scenario. Follow my discord on my...
After analyzing BTC, I think we are left with two main scenarios. We we either dip down to 33-32k levels, or start our journey to 52k then blast off. Depending on your risk tolerance and strategy is how you can play the scenarios. I plan on placing a spot limit at the 33,803 level with a 31,905 SL. Also playing a scalp at 32,299 with the same SL. I'm expecting...
All areas are labeled in the chart. I like the 1:10 RR play on this one. I believe that BTC will bottom in the $36k area and this will play into that.
Playing a long off the bottom All levels are labeled and DCA %
Blue is entry line Orange like is SL Green are my TP lines
Blue lines are entry lines, green are Tp levels, orage is SL. The % is the DCA % for buys and sells.
Buy at the placeholder lines. Orange line is SL, and green lines are TP