Considering btc might go into a long congestion zone as described in the attached chart it would be good to have a way to trade it without having to sit around doing nothing until it's in the buying zone.
Instead of having a wholly bearish bias while above 10k, I am looking to trade in either direction in the grey area but the rule is that all trades have to be flat by the end of the day.
Once it pulls back to the more reasonable fib zone in the green box I can start thinking about building a long position.
I am not interested in buying and holding in the grey box unless it forms a very obvious flat top ascending triangle as charted in the attached chart. That will take several months so it's really not a relevant part of the plan for now.
Instead of having a wholly bearish bias while above 10k, I am looking to trade in either direction in the grey area but the rule is that all trades have to be flat by the end of the day.
Once it pulls back to the more reasonable fib zone in the green box I can start thinking about building a long position.
I am not interested in buying and holding in the grey box unless it forms a very obvious flat top ascending triangle as charted in the attached chart. That will take several months so it's really not a relevant part of the plan for now.
