Everyone goes crazy when they see large movements, however lets not be too hasty and make irrational decisions.
# Strategy
If going SHORT wait for the consolidation and the breakout.
Same goes for a LONG position, although I am not too optimistic going LONG due to the fact BTC is super over priced and the massive upwards channel (blue lines) is signaling we are close (if not already!) to the top.
# Risk Management
Place stops above or below the consolidation.
# Targets << will update this once the structure has formed
Roll to break even at 1.27 extension
Take profit at 1.618 extension
Take care and thank you for reading.
# Strategy
If going SHORT wait for the consolidation and the breakout.
Same goes for a LONG position, although I am not too optimistic going LONG due to the fact BTC is super over priced and the massive upwards channel (blue lines) is signaling we are close (if not already!) to the top.
# Risk Management
Place stops above or below the consolidation.
# Targets << will update this once the structure has formed
Roll to break even at 1.27 extension
Take profit at 1.618 extension
Take care and thank you for reading.