Bitcoin is testing an important support and buyers didn't miss the opportunity. As you can see, the price is going up with a strong action by buyers.
The market is still down, in my opinion, so I'm waiting for a good opportunity to enter my short position.
My trading idea is to let buyers push the price higher for now and start to sell around $10200, where we have a nice area where usually buyers and sellers attempt to take control of the market.
Once we get our entry, it is easier to place stop loss and take profit. Stop loss above last important swing high and take profit trading the breakout of the support and applying the measured move to calculate the best area for it.
The risk to reward ratio is very appealing, so I don't want to miss this trading opportunity :)
The market is still down, in my opinion, so I'm waiting for a good opportunity to enter my short position.
My trading idea is to let buyers push the price higher for now and start to sell around $10200, where we have a nice area where usually buyers and sellers attempt to take control of the market.
Once we get our entry, it is easier to place stop loss and take profit. Stop loss above last important swing high and take profit trading the breakout of the support and applying the measured move to calculate the best area for it.
The risk to reward ratio is very appealing, so I don't want to miss this trading opportunity :)
Transakcja zamknięta: osiągnięto wyznaczony cel:
Take profit reached!
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