BTCUSDT at daily support and likely to head up to 27636

The price has hit the daily support. I think this daily support will hold the price and stop it from moving downward for now. This creates a favorable condition for a long trade as the price is likely to bounce from this support. The price migh go deep further into this support zone so I will slowly build the position as the price moves into this zone. There are two targets for this trade. One target is the hourly resistance around 27396 where the price will face some resistance and pullback. Therefore offloading some size here and then adding again on pullback is favorable. The final target is the 4h resistance 4HR1 around 27636.

Comment:

Have kept this trade active although it reached the stop level. I was a bit too early but I think its quite close to reversal. Therefore, I will let it run and stop moved to 26396.

Comment:

I think this pullback after the recent move up is a place to add to the position size. I will add some size here to my position.

Comment:

This is looking bullish to me. I have added some more size to the position on the close to the previous low around 26536. The price action is suggesting some upward move and probably the first trade target shall not be far away in time.

Trade closed: target reached:

The price hits the target zone and in turn completes this trade in our favor. I believe the price can still target to daily resistance before a pullback. Lets look for the next opportunity on this one. Remember that our high time frame long trade is still running.