prayank23

Long at Low leverage makes sense here

Long
prayank23 Updated   
BITFINEX:BTCUSD   Bitcoin
I would place my bids from 7750 to 7200 scaled in increasing order and long here, has good risk/reward

That falling wedge, order blocks, fibs, over bearishness in market etc. aligns together for a short term bounce here

Might add more if it dips to 6800-7000
Comment:
Comment:
Comment:
Target 1 reached : 8-8.1k
Comment:
Lot of resistance here though

Comment:
Trade closed manually:
4h rekt

Closing rest of the position now at break even makes more sense and maybe long it later

Comment:
Although, this chop chop can go either way

Resistance at 8.1-8.2
Support at 7.2-7.5 and then 6.7-6.8

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.