Trade Set Up with BTC
Updated
This is my trade set up for BTC. The critical levels for BTC right now are the 
46K, $48 and 
52K regions. It is where most of the recent price actions have taken place. If there is a pullback and followed by a bullish reaction at the 46K region then BTC will take shape of a reverse head and shoulder pattern. This is the trade I want to anticipate and enter. My entry point is on that 46K support with a stop loss right below. On the flip side, if you are bearish, you could enter a short here as well, with a stop loss right above. The region around 
42K-40k is where I would close my short. Let's wait and see what happens. Happy trading!
46K, $48 and 52K regions. It is where most of the recent price actions have taken place. If there is a pullback and followed by a bullish reaction at the 46K region then BTC will take shape of a reverse head and shoulder pattern. This is the trade I want to anticipate and enter. My entry point is on that 46K support with a stop loss right below. On the flip side, if you are bearish, you could enter a short here as well, with a stop loss right above. The region around 42K-40k is where I would close my short. Let's wait and see what happens. Happy trading!Comment
My predicted entry point was the 46K region which did BTC did not reach. The 47k support held and BTC has been tracking up higher. This highlights the importance of ladder buying and ladder selling. You never definitively know where the market will go. My targets were also off because I calculated a lower entry point. Since my game plan did not play out, I did not chase this trade.Comment
Funny how the trade comes to you when you don't chase it. I'm glad it worked out. I made some errors on my chart. I need more practice.
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