BTC LTF trade set up

#bitcoin on LTF, broadening wedge. Lose 50900 and we could head towards 49600 area with BW price target at 50300. Breakout PT would be 52700.

LTF setups are choppy and often times unreliable, but sometimes if used at HTF S/R areas, they give good entries towards the breakout of HTF patterns/trends.

Bitcoin is currently at resistance and stalling. Bias would be throwback to 50k level for retest.

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Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.

Please note:

- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!

Note

Note

Trade closed: target reached

Still likely we retest 49800

DaCryptologist

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DaCryptologist

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