Long

BTC 50500 Break and Rejection Scenario

Updated

Price keeps hitting above 50k
Major resistance at 50500, if it gets broken expecting a rally towards 51500.
If rejcted, bounce back to 50k with subsquent break towards 49150.

Trade active

Break above, long order filled.

Note

Second wave long incoming

Trade closed manually

Taking profit, lots of resistance coming from 50800

Trade active

Long from 50600
SL at 50605

Trade closed: stop reached

Note

Once resistance at 50810 is broken, longing again.
Tight stoploss recommended.

Trade active

Longing now 50810
SL at 50750

Note

Profit Target 50960

Trade closed: stop reached

Note

Strong rejection, double shoulder incoming then expecting steep drop if the second wave breaks downwards of 50650.

Note

Got some solid profits longing the breaking resistance.
51k resistance stronger than expected, adding to future analysis.
Rally to 51500 still very possible.

Long from 50850 when breaking upwards.
Otherwise short after 50610 when breaking downwards.

I'm done for for now.

Tuneedits

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