BTC slowly moving upwards. Bullish day incoming with a new ATH?
Boring weekend ahead as BTC likely going sideways pondering its next gig
Previous Chart:
On previous chart, back to back if you followed my short from 62300 down to 60150 (unfortunately got hit by stop profit at 60800, still decent) and then long from 60700 up to that 64000 peak (I actually took profit a bit earlier at 63600) we gained $2000+ and another +/-$3000.
It was a great week, I am currently at 100% win rate with a huge win for this week, I hope you guys are too
It didnt went bearish but rather quite bullish breaking our predicted resistances, but profits are still profits!
My plan for today's trade:
Multiple channels are now pointing up North, signing a healthy start for perhaps another bull run. But we are surrounded by so many resistances and with the weekend coming, the next few days are probably going to be pretty boring (sideways and more sideways). Risk to ratio wise, we are currently better off taking long positions. I personally will not take any trade right away but wait for btc candle to touch either the top or the bottom of dotted line on the blue channel.
There are quite a few scenarios that may play out depending where BTC will go upon breaking the blue channel. The green will be a very strong support that you can rely back as your stop loss should it break (if you long) with the orange as your stop loss should it break as well (if you short)
The blue path is personally the path I will take and hope to occur.
Do keep in mind that should the blue channel breaks, whether at the bottom or the top, we must adjust our position based on the information I have given above. Use the arrows as guidelines for your trade and not as exact point to enter a trade.
This chart will not probably hold as well as the previous, so I might update it on Sunday or Monday. I do strongly suggest to take a break this weekend for any trade as there will probably not much whiplash and likely filled with boring sideways. Either way I wish you good luck and good weekend!
The arrow icons are guide lines. It will not hit exactly on the same spot.
Use them as guidelines to make decisions based on the ongoing channel lines closest to it. A rejection usually occurs when the line is hit. These are where u usually enter your trade, or set your stop loss, or gradually increasing your stop profit point.
1) breaking the channel line means continuation of the current trend.
2) rejection of the channel line means reversal of the current trend.
The arrow patterns are possible movement path. It will not move exactly as how they were drawn. Use them as guidelines to consider your decision
Please always remember to put a stop loss when you first enter a position, a stop profit when you are already in profit, and never chase a trade.
Should you have any questions or inputs, please let me know in the comment section, I will always answer them as best as I can,
Thanks for stopping by to my post, hope it can help you better in your decision making.
Previous Chart:
On previous chart, back to back if you followed my short from 62300 down to 60150 (unfortunately got hit by stop profit at 60800, still decent) and then long from 60700 up to that 64000 peak (I actually took profit a bit earlier at 63600) we gained $2000+ and another +/-$3000.
It was a great week, I am currently at 100% win rate with a huge win for this week, I hope you guys are too
It didnt went bearish but rather quite bullish breaking our predicted resistances, but profits are still profits!
My plan for today's trade:
Multiple channels are now pointing up North, signing a healthy start for perhaps another bull run. But we are surrounded by so many resistances and with the weekend coming, the next few days are probably going to be pretty boring (sideways and more sideways). Risk to ratio wise, we are currently better off taking long positions. I personally will not take any trade right away but wait for btc candle to touch either the top or the bottom of dotted line on the blue channel.
There are quite a few scenarios that may play out depending where BTC will go upon breaking the blue channel. The green will be a very strong support that you can rely back as your stop loss should it break (if you long) with the orange as your stop loss should it break as well (if you short)
The blue path is personally the path I will take and hope to occur.
Do keep in mind that should the blue channel breaks, whether at the bottom or the top, we must adjust our position based on the information I have given above. Use the arrows as guidelines for your trade and not as exact point to enter a trade.
This chart will not probably hold as well as the previous, so I might update it on Sunday or Monday. I do strongly suggest to take a break this weekend for any trade as there will probably not much whiplash and likely filled with boring sideways. Either way I wish you good luck and good weekend!
The arrow icons are guide lines. It will not hit exactly on the same spot.
Use them as guidelines to make decisions based on the ongoing channel lines closest to it. A rejection usually occurs when the line is hit. These are where u usually enter your trade, or set your stop loss, or gradually increasing your stop profit point.
1) breaking the channel line means continuation of the current trend.
2) rejection of the channel line means reversal of the current trend.
The arrow patterns are possible movement path. It will not move exactly as how they were drawn. Use them as guidelines to consider your decision
Please always remember to put a stop loss when you first enter a position, a stop profit when you are already in profit, and never chase a trade.
Should you have any questions or inputs, please let me know in the comment section, I will always answer them as best as I can,
Thanks for stopping by to my post, hope it can help you better in your decision making.
Trade active:
Entry 61366.9 long
Trade closed: stop reached:
Trade closed, stop profit hit 61688.8