We have a potential market recovery underway and Bitcoin is leading the market and starting to look far more bullish now for a few reasons.
How I'm Approaching This Trade:
If my stop loss is hit I'm likely going short for new lows on BTC down to $71,500 - $62,500
If this is truly an the beginning of a new trend to the upside, our bull market zone on bitcoin will be above $95,000.
If my first trade goes in my direction and Bitcoin trades higher, I will scale in with more of my portfolio, like 10-15% more.
NOTE: All altcoins will likely follow bitcoin and trade higher because many are severely oversold. however they are currently lagging (or not moving up as much as bitcoin) right now. This is my signal to take far smaller positions on most altcoins and only place bets behind stronger performers.
HOWEVER, the path of least resistance right now is DOWN as we are still technically in an intermediate-term downtrend since January 20, 2025. So practice caution and good risk management. Stay away from leverage if you haven't mastered the basics of a chart yet. I still think we're going lower but with these signals I must remain agnostic and do what the charts are telling me to do.
Happy trading!
- 10ema has crossed over the 20ema AND price is above both on daily timeframe = BULLISH
- Major BTC support is at $78,470, price broke below for a bear trap and closed back above = BULLISH
- Loads of buyers stepped in with volume at the lows to bring price back above that support = BULLISH
How I'm Approaching This Trade:
- I'm entering a Long Position on any price close above $89,200 on a daily timeframe.
- I'm only entering with 10% of my portfolio. (I.E. $100,000 Portfolio - $10,000 position)
- Will need to see follow through on the next day - Increasing volume on both days.
- DO NOT want to see price break above $89,200 and then close below that range the next day.
- Keeping a tight stop at $84,400 down to $83,800 which is will likely be a 7-8% loss on my pilot position. This is equal to less than 1% of my total portfolio.
If my stop loss is hit I'm likely going short for new lows on BTC down to $71,500 - $62,500
If this is truly an the beginning of a new trend to the upside, our bull market zone on bitcoin will be above $95,000.
If my first trade goes in my direction and Bitcoin trades higher, I will scale in with more of my portfolio, like 10-15% more.
NOTE: All altcoins will likely follow bitcoin and trade higher because many are severely oversold. however they are currently lagging (or not moving up as much as bitcoin) right now. This is my signal to take far smaller positions on most altcoins and only place bets behind stronger performers.
HOWEVER, the path of least resistance right now is DOWN as we are still technically in an intermediate-term downtrend since January 20, 2025. So practice caution and good risk management. Stay away from leverage if you haven't mastered the basics of a chart yet. I still think we're going lower but with these signals I must remain agnostic and do what the charts are telling me to do.
Happy trading!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.