Bitcoin (BTC/XBT) Daily Long&Short Trade Setups 2021/01/27

Live trades will be called in the latest daily post. Follow me to trade live with me!
Also check out my daily post on Ethereum!

MARKET OVERVIEW

• Price Action: Bitcoin is stuck consolidating at the 200MAs, bouncing within a tight range around the 200MAs
  
• Patterns: No patterns.
  
• Areas of Interest: The area(s) of interest for us are the 200MAs @ $32.2K. Once price reaches one of our areas of interest and gives us a valid entry signal, I will update the trade, so make sure you follow me to get the trade entry signals in real time.
  

TRADE SETUPS
Below are the potential trade setups that I would be interested in trading. Regardless of the path that the price takes, I will be monitoring the market for a valid trade entry signal.

Short Trade Setup #1: Retest and Continuation (200MAs)
To open a short position, we are waiting for price to retrace back up to test the 200MAs and then continue moving down.
1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $32.2K by the time price reaches it, and bounce back up.
2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out

TRADESS RECAP: LATEST 3 TRADES

• 2021/01/27: We had a winning trade! We entered short @ $32236 SL @ $32658, price reached a low of $31350, giving us a risk reward ratio of 2:1, meaning if you risked 1BTC on this trade, you could've made 2BTC.
  
• 2021/01/26: We had a winning trade! We entered long @ $31643 SL @ $31171, price reached a high of $32450, giving us a risk reward ratio of 1.7, meaning if you risked 1BTC on this trade, you could've made 1.7BTC.
  
• 2021/01/20: We had a winning trade! We entered short @ $34940 SL @ $35560, price reached a low of $28850, giving us a risk reward ratio of 10:1, meaning if you risked 1BTC on this trade, you could've made 10BTC.
  

Why Follow Me

• Daily analysis on the latest market movements and price zones for high probability trade setups.
  
• Live trade signals so that you can take the same trades that I am taking.
  
• A great place to help each other, learn from each other, and grow together.
  
• Trading education in the form of personal advice and educational materials
  
• Constantly testing and adding new trading strategies and refining battle-tested ones.
  

About Me

• I started trading in 2008, first got introduced to bitcoin in 2009, and have been actively trading cryptocurrencies since 2016.
  
• I have worked on Wall Street trading bonds, stocks, and options.
  
• I have worked at top consulting firms advising Fortune 500 companies and worked on $10Billion+ deals.
  
• I have founded and advised blockchain projects and companies, including in the areas of defi, nft, data ownership, and personal identity.
  
• I have taken hundreds of live trades, each recorded with over 50 data points, all meticulously analyzed, using data analysis and modeling to optimize win probability and risk reward.
  

DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR.

Please support me by liking, sharing, commenting, and following, and sharing your ideas and analysis below! Thanks!

Comment:

BTC bouncing off 30.8k again. This level must hold for bulls or were in a for a nasty crash.