BTCUSDTPERP is a higly speculative crypto
The price moved down to a key support level and on the 15 min time frame we got a bullish engulfing candlestick. This is where I entered a trade with 10x leverage. I think the price will move up to the next key resistance level.
The price moved down to a key support level and on the 15 min time frame we got a bullish engulfing candlestick. This is where I entered a trade with 10x leverage. I think the price will move up to the next key resistance level.
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Stop loss is now basically at break even. A little bit above
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A small decending triangel has taken place. This is not what we want to see in an uptrend
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Looking for a new entry down in the support zone
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The decending triangel got completely invalidated and I entered a new trade at the breakout of the downwardsloping resistance line. The position almost got rekt but now we have a bullish hammer on the hourly candlestick indicating that the trend is about to change and shoot up. Im holding the position further
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Remember the rule to not trade in the middle, I should have stuck to the original plan and I would have the potential to make twice the ammount. The people that trade in the middle get rekt
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I have also moved the tp to around 20% gains, I like to play it safe and there is also a resistance line there: the last seen top with the prominent breakdown
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I would not have made twice the ammount, that was a wrong statement
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Now the price is retracing and will most likely make a lower high. On the hourly time frame we did get a indecisive candlestick, which is indicating a change in trend (bearish) but I still believe we will make that lower high since that is the trend
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Higher low*
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Now the price has hit the micro supply zone. What we would like to see is for the price to make a prominent candlestick out of the zone
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Demand zone*
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Now we have gotten a bullish engulfing candlestick on the 15min timeframe and this is going out from the demand zone (support) indicating that the higher low is set and that the price is ready to pump.
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And on the hourly timeframe we did get a candlestick with a very bit wick which is indicating that the sellers is losing momentum and a change in trend is very likely. We are going to pump!
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Big*
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I think I can stick to the macro trend so I moved the tp back to the original place. Depending on how the price acts at the micro resistance I will trade on it
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Bullish engulfing on the hourly. The price will pump
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The candlestick was not prominent enough for a rapid increase in price. But I am still long
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As we can see on the daily timeframe we did get small candlesticks with long wicks indicating that sellers are losing momentum and that the trend is about to change. Remember that the bigger the timeframe is the more significant it is.
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Bullish hammer has formed on the hourly
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I will make a new post on btcusd to see if more people will react
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Since the price broke a key support level I am now in a short position