This time, I will be longing Bitcoin from 6370 to around 6.5k. I will probably set a trailing profit if we get past 6.5k in case we have a bullish breakout. We have a bearish rising wedge on Bitcoin so I think we can ride this one up for a good long with a nice risk/reward ratio.
However, it is important to note there is a high chance for this pattern to fail as Bitcoin is highly manipulated relative to altcoins, which are way easier to predict. We will be prepared by setting a stop loss and take profit system.
How to trade:
Buy in: 6370
Stop loss: 6308/6290 area
Take profit:
6.5k+ with a trailing take profit system. I believe we may be able to reach 6.7k if t his goes according to textbook.
Thanks for reading! I will respond to all comments below. My short entries are as shown on the chart.
However, it is important to note there is a high chance for this pattern to fail as Bitcoin is highly manipulated relative to altcoins, which are way easier to predict. We will be prepared by setting a stop loss and take profit system.
How to trade:
Buy in: 6370
Stop loss: 6308/6290 area
Take profit:
6.5k+ with a trailing take profit system. I believe we may be able to reach 6.7k if t his goes according to textbook.
Thanks for reading! I will respond to all comments below. My short entries are as shown on the chart.
Dagangan ditutup: sasaran tercapai
I took profit here. I agree with Astroc that we will be dropping pretty soon. This was a pretty risky trade I took.Penerbitan berkaitan
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Penerbitan berkaitan
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.