BTCUSD: possible long scneario
Technically speaking, BTC has broken out from the triangle chart pattern on 4h timeframe...
...so entering from around 6600 with S/L around 5650 and T/P around 9200 (previous March high) price levels provides decent R:R opportunity.
Fundamentally, BTC was under pressure as other major markets and I am not sure we are not going to see lower levels in the coming days/weeks, but before that another bull rally is quite possible.
Keep in mind, that It's important to follow predefined risk and money management rules.
//
I would very much appreciate if you support my work by hitting like .)
Feel free to share your opinion/position via comment and follow me to stay updated.
...so entering from around 6600 with S/L around 5650 and T/P around 9200 (previous March high) price levels provides decent R:R opportunity.
Fundamentally, BTC was under pressure as other major markets and I am not sure we are not going to see lower levels in the coming days/weeks, but before that another bull rally is quite possible.
Keep in mind, that It's important to follow predefined risk and money management rules.
//
I would very much appreciate if you support my work by hitting like .)
Feel free to share your opinion/position via comment and follow me to stay updated.
Order cancelled
Couldn't enter at preferred price, decided not to realize this idea, i think the price should go lower, where a better opportunity might be.
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.