BTC Uptrend: Bullish div BTC Weekly, and Pullback to EMA on 1D
This setup is about a pullback to the Value zone on the daily, and the larger setup on the weekly: A bullish divergence.
1W:
Bullish divergence on the weekly, but only on the MACD-H, so I rate it weak. It might look strong, but these are the facts: only a bullish div on MACD-H, not on any other indicator. Stochastic RSI is curling up from an oversold condition. I give this idea the benefit of the doubt and have a conservative target slightly below the Slow 22-EMA, where I will take off 66%.
I'll let the remainder run with a traling stop.
1D:
There is a ride the trend setup, in which the price is pulling back to the Value zone. I enter with only 50% now, because it's not clear if the pullback is forming a low, or if it will go lower. For the other 50% I'll wait for the daily close and look for the situation on the 4H at the end of the day.
R/R:
1:1.6 e: 22500 s: 18750 tp: 29000
1W:
Bullish divergence on the weekly, but only on the MACD-H, so I rate it weak. It might look strong, but these are the facts: only a bullish div on MACD-H, not on any other indicator. Stochastic RSI is curling up from an oversold condition. I give this idea the benefit of the doubt and have a conservative target slightly below the Slow 22-EMA, where I will take off 66%.
I'll let the remainder run with a traling stop.
1D:
There is a ride the trend setup, in which the price is pulling back to the Value zone. I enter with only 50% now, because it's not clear if the pullback is forming a low, or if it will go lower. For the other 50% I'll wait for the daily close and look for the situation on the 4H at the end of the day.
R/R:
1:1.6 e: 22500 s: 18750 tp: 29000
Comment:
I did not add more, it went to fast and did not find a proper setup at this pullback. Currently it is pulling back again and I wait for a low to form and will add the other 50%. We need to wait for this pullback to form a higher low, or already bounce here at the EMA. It needs to be confirmed for me to add the other half.
Trade closed: stop reached:
Stop was reached, but new setup has been posted. Let's try again. Sorry to have posted a loser, but that's part of the game.
