Good evening followers!
I hope you had a great weekend and I cannot wait to go straight into this Bitcoin trade idea and share it with you!
Here we go! Bitcoin is trading in a beautiful triangle pattern since around 3 months already, bouncing off from strong support areas which are marked as orange zones on my charts. Always when price dropped to these demand zones, bulls killed bears and price aggressively shot up. It is worth to mention, that this level must be strong which is specially indicated by the long wicks on the daily timeframe! This facts makes it a perfect zone to place buy limit orders, in case of a shake out before the triangle breakout could happen, and its also a fantastic area to place a stop loss. For the more conservative traders I even recommend placing the SL below the daily 200EMA, like marked on the charts!
The volcano is boiling guys and I have high confidence that a breakout to the upside could happen very soon. I drew a possible 5 wave scenario, which I will follow and update according to future price action!
Lets place a Buy Stop order right above the daily bullish pinbar and 2 buy limit orders right at the demand zones. All trades have a fantastic R/R ratio like shown on the charts. After the breakout wait for a 50%-62% fib Pullback (wave 2), this would be our 4th trade, in case we have the chance to buy at the demand zones also.
Feel Free to enter a trade even now, if you can find a bullish candlestick pattern. I am already long @9995.
Trade 1:
BS: 10482.5
SL: 9825
TP: 11866
Trade 2:
BS: 9644
SL: 8933
TP: 11866
Trade 3:
BS: 9134.5
SL: 8933
TP: 11866
Trade 4:
Pullback entry after breakout!
Trade 5:
Now! Find a Bullish candlestick pattern. I bought at 9995
If you like this trade idea, comment, follow me and click the like button. This motivates me to post more high quality ideas in the future.
Thanks, enjoy, trade safe and always use a stop loss!
I hope you had a great weekend and I cannot wait to go straight into this Bitcoin trade idea and share it with you!
Here we go! Bitcoin is trading in a beautiful triangle pattern since around 3 months already, bouncing off from strong support areas which are marked as orange zones on my charts. Always when price dropped to these demand zones, bulls killed bears and price aggressively shot up. It is worth to mention, that this level must be strong which is specially indicated by the long wicks on the daily timeframe! This facts makes it a perfect zone to place buy limit orders, in case of a shake out before the triangle breakout could happen, and its also a fantastic area to place a stop loss. For the more conservative traders I even recommend placing the SL below the daily 200EMA, like marked on the charts!
The volcano is boiling guys and I have high confidence that a breakout to the upside could happen very soon. I drew a possible 5 wave scenario, which I will follow and update according to future price action!
Lets place a Buy Stop order right above the daily bullish pinbar and 2 buy limit orders right at the demand zones. All trades have a fantastic R/R ratio like shown on the charts. After the breakout wait for a 50%-62% fib Pullback (wave 2), this would be our 4th trade, in case we have the chance to buy at the demand zones also.
Feel Free to enter a trade even now, if you can find a bullish candlestick pattern. I am already long @9995.
Trade 1:
BS: 10482.5
SL: 9825
TP: 11866
Trade 2:
BS: 9644
SL: 8933
TP: 11866
Trade 3:
BS: 9134.5
SL: 8933
TP: 11866
Trade 4:
Pullback entry after breakout!
Trade 5:
Now! Find a Bullish candlestick pattern. I bought at 9995
If you like this trade idea, comment, follow me and click the like button. This motivates me to post more high quality ideas in the future.
Thanks, enjoy, trade safe and always use a stop loss!
Trade active:
Please check out the Bullish Pinbar on the 4h which will close in around 1hour.
Place a Buy Stop at around 9929USD and a SL right below the first support zone @9525USD.
Too bad that our Limit Buy(trade 2) not triggered because of 7USD.
Place a Buy Stop at around 9929USD and a SL right below the first support zone @9525USD.
Too bad that our Limit Buy(trade 2) not triggered because of 7USD.
Comment:
You don't need to wait until the 4h candle has closed but of course you can wait!
Comment:
Buy Limit 9644 hit!
Trade active:
Reversal morning star pattern on the 4h. Add on the 4h close (current green bar)
Trade closed: stop reached:
idea invalid!