Long

Bitcoin: Bounces after morning sell off - juicy day trade??

Updated

Bitcoin opened around 35500 this morning and rallied in early morning trade leading up to the European Open achieving a new daily high of 36871 it retested that high about two hours later and since then we retraced all the way back to close to this morning's open, I'm seeing a juicy long trade opportunity as it goes back to retest the intraday highs in the next couple of hours.

Trade Idea: Long Bitcoin.

Intraday Target: 36700 +

Entry above support at 36100 - 36 200
Stop-loss levels 35800 - 35900
Protect profit from 36150 to 36500
If breaks above 36600 may fly up to retest 36750 - intraday high
Alternatively take profit and rebuy the retracement to previous support levels.

I hope you enjoyed this idea.

Note

Support holding at 36000
Trade entry triggered

Trade active

Entry Levels reached

Note

Moving up sharply. Adjust SL accordingly

Trade closed: stop reached

Trade active

Trade has been re-validated. Entry was too early, now opportunity to enter at a better level and make a previous loss. It was a shake out.

Note

Take some profit

Trade closed: target reached

Great wave trade.

Note

Wait for a retracement below 36 181 to look for the next long setup to the next potential intraday high

Trade active

Is bouncing off 36 181
Re-entry long at the break of 36250 -36285
SL 36099
TP 36350 - 36447

Note

36181 holding firm as support. Expecting break up towards around 36376 level, next potential resistance

Trade closed: stop reached

Spike down - shake out

Trade active

Damn spikes s. re-enter again at 36123

Trade closed: target reached

Note

Original trade idea played out as per video. I traded multiple times, overall very successful. BTC has reached close to the day highs.

Wayne_G

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