Total Market:
- selling off to downside, BTC did not bounce at 0.618 fib level proving buyers are not stepping in
Daily:
- Price breaking through long term support level with BB break. Bears in control of momentum
4H:
- Same as Daily. Break lows across the board
Trade Management:
- I will be looking to scale in to position more on pull backs. This is an A+ but is currently slightly overheated to the downside. With my wide stop, I wouldnt expect price to go near it so ill be looking to scale in for more
Stop loss: 1.058
- Placed above both weekly and daily areas of demand, and 20 EMA on the daily
Take profit: 0.385
- Placed at next (and really the only) level of support on longer term timeframes such as the daily and weekly
- selling off to downside, BTC did not bounce at 0.618 fib level proving buyers are not stepping in
Daily:
- Price breaking through long term support level with BB break. Bears in control of momentum
4H:
- Same as Daily. Break lows across the board
Trade Management:
- I will be looking to scale in to position more on pull backs. This is an A+ but is currently slightly overheated to the downside. With my wide stop, I wouldnt expect price to go near it so ill be looking to scale in for more
Stop loss: 1.058
- Placed above both weekly and daily areas of demand, and 20 EMA on the daily
Take profit: 0.385
- Placed at next (and really the only) level of support on longer term timeframes such as the daily and weekly
Trade closed manually:
Going to re enter upon retest. Got in too early