Bitcoin Breakout Trade
Since making an ATH on March 14th, Bitcoin has been in a correction.
Following the March 20th bottom, Bitcoin is making HHs and HLs.
I have my reservations about the PA. However, the price is what matters. We trade the chart. Not our opinions.
On the 4H chart, bitcoin forms an ascending triangle.
It tried to break above the 0.786 fib retracement at 71.1K four times.
Should the fifth attempt be successful, the target is 82K.
Wait for confirmation!
Trade Idea:
Entry: 71.1K
SL: 70.4K (micro s/r level)
TP: 74K, 82K.
R: R: 1:4 to first TP.
NFA.
What do you think? Please share in the comments.
Best wishes.
Following the March 20th bottom, Bitcoin is making HHs and HLs.
I have my reservations about the PA. However, the price is what matters. We trade the chart. Not our opinions.
On the 4H chart, bitcoin forms an ascending triangle.
It tried to break above the 0.786 fib retracement at 71.1K four times.
Should the fifth attempt be successful, the target is 82K.
Wait for confirmation!
Trade Idea:
Entry: 71.1K
SL: 70.4K (micro s/r level)
TP: 74K, 82K.
R: R: 1:4 to first TP.
NFA.
What do you think? Please share in the comments.
Best wishes.
Order cancelled:
The conditions for the the trade did not materialize.
