BTC USD long IDEA
Updated
We have been heavily bearish, and the market structure has shifted in favor of the long side. I'm anticipating a continuation higher to potentially reach the targets indicated.
This is an extremely volatile pair; if you fail to maintain a reasonable stop and leverage, it could be uncomfortable.
My point of interest is the yellow line.
My bets are on the long side despite being in a massively bearish trend.
Secure positions, partial and play accordingly.
Possible to hold positions to the day's close
If you look to the left, we have a massive imbalance that has the potential to be filled.
If we continue, lower, I'll mitigate losses, manage risk, and re-assess my idea.
This is an extremely volatile pair; if you fail to maintain a reasonable stop and leverage, it could be uncomfortable.
My point of interest is the yellow line.
My bets are on the long side despite being in a massively bearish trend.
Secure positions, partial and play accordingly.
Possible to hold positions to the day's close
If you look to the left, we have a massive imbalance that has the potential to be filled.
If we continue, lower, I'll mitigate losses, manage risk, and re-assess my idea.
Note
19821 partialNote
once we sweep 19996, id trail my stop closer but not at break-even yetNote
taken more partialsNote
From the reaction, the market is primed to go higher. I'd recommend avoiding taking shorts unless you are great at anticipating short-term reversalsNote
Scaled out, stop trailed to break evenNote
Remember we are still overall bearish, don't push your luck!Note
Scaled out some more trailed stop higher. Risk-freeNote
the imbalance has been rebalanced as anticipated. if in, you can scale out and manage risk accordinglyNote
Profit target 1 achieved and securedNote
We are approaching the close, as expected you can liquidate your positions and leave a few on to the next dayNote
20817.09 partialNote
Trailing stops higher and securing positionsTrade closed: target reached
Target achieved, collapsed all positionsNote
Final target achieved
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.