BTC next move and how to trade it.
Updated
Stochs on lower timeframes 1-4 hours all heading down. 12hr and daily still bullish. weekly bearish.
We just had an impulse wave off the support recently and now expecting greater retracement before another push up. Low TF oscillators heading down could be signalling an incoming dump however with the 12hr and daily having recently crossed up I'm expecting the dump to be bought up quick if it does happen. Should price head south 8000 should be a good area to buy however if wanting to be more cautious wait for a fresh bull divergence on the RSI on lower timeframes. Targets are based on fibs ,trendlines and Moving averages.
We just had an impulse wave off the support recently and now expecting greater retracement before another push up. Low TF oscillators heading down could be signalling an incoming dump however with the 12hr and daily having recently crossed up I'm expecting the dump to be bought up quick if it does happen. Should price head south 8000 should be a good area to buy however if wanting to be more cautious wait for a fresh bull divergence on the RSI on lower timeframes. Targets are based on fibs ,trendlines and Moving averages.
Note
Trade Active.Short Opened at 8373. Profit taking - 8270,8200. Target ~8k BTCTrade active
Took profit from 8300-8210. Looking to add back to short at 8300. Currently in descending triangle.Trade active
Short profit taken. Long Opened at 8080. Look to take Profits/open shorts at 8170-200. Adding to longs 7970-8080.Trade active
Took profit on 8080 Longs and Flipped Short at 8180. Looking for more downside.Note
Reduced short position by 50%Trade closed manually
Closed short for small profits. Price action uncertain.Note
Targets hit. Trade played out perfectly
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