Wait for the pullback
As here we can see that BTC completly crossed the previous strong resistance which acted as support two times. Also, it did not showed any weakness in the fibonacci 61.8 area which can also be called the golden ratio of fibonacci, and headed completly towrds the previous resistance breaking out a upper trend line formation or we can alos call it a break down of symmetrical triangle. There was no pullback in 18500 area, which headed the BTC to break out the triangle formation. I think BTC is going to show some upward momentum break out in the resistance area, and might come back to pull back up from the triangle or touching or showing some rejection from the fibnacci golden ratio marked with BLACK horizontal line.
I am thinking of going long from the area all the way to previous higher high if I see some bullish engulfing pattern with the pullback.
Again, if BTC showed some weakness touching the 19300 area of resistance again, with the pullback of the candles, I am out of trade.
For the risk management, I am going with a 1000 USDT trade with the leverage of 15 with the pullback. About the stoploss, I am not actually going for it as I will be monitoring my trade most of the time.
I am thinking of going long from the area all the way to previous higher high if I see some bullish engulfing pattern with the pullback.
Again, if BTC showed some weakness touching the 19300 area of resistance again, with the pullback of the candles, I am out of trade.
For the risk management, I am going with a 1000 USDT trade with the leverage of 15 with the pullback. About the stoploss, I am not actually going for it as I will be monitoring my trade most of the time.
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