Boombaclap

Boom on new years eve, Ba during hangover and clap on capitulation.

Legend:
Red line- momentum down
Green line - momentum up
Yellow line - momentum neutral

Trade active

previous trading plan

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Trade active

Managing the position actively --> selling resistance and buying support+looking at indicators to anticipate on potential S/R flips

(Last step from previous post -->took another profit at 7600 and reentered at 7250. raised stop loss to 6836)
Decided to exit at 7250 after shake out on the 26th. My profit was 2x my potential risk, which I find acceptable for a long in this bearish environment. I am happy to accept the 1/2 ratio, because potential 1/4 ratio, if able to catch a reversal at this level.

Placed buy orders in the 7100-6850 area to reenter my long pos, sl 6716. Quite a risky play, but looks like upwards moment is building up on higher time frames. Expecting a bounce around 6900 whit potential to retest upper range(7800-8300), before continuation to the downside.

if 68xx breaks, my first priority is considering flat usd postion (which i will be forced in by my conditional orders at 6716)

if my buy orders around 6900 won't get filled, I will be flat in btc, looking to long the first confirmed support.

Trade closed: target reached

ps. the 1/2 successful trade, had the potential of 1/3 (sl6100-perfect entry 6400-perfect exit 7600)

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*correction* potential 1/4

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bullish divergence on the 2 day chart

<deleted>

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tradingview.com/chart/BTCUS

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seems like 7200 is providing solid resistance, going to enter long again if price hits 7250.

Arzalon

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