Buying First 20% of Long Position at 8900
Looking at a smaller time frame now as I try to find my next entry. As I said in my last 2 ideas, I think price can go lower in this pullback, but I don't want to miss the next rally. I'm going to take a small long position at 8900. Entering very slowly, just 1/5 of my desired position. I will buy another 20% each $1000 lower. 7900, 6900, etc. If price turns up at 8900 (i don't think it will), I will buy more with different entry criteria. Before I enter this trade i want to see the stochastics oversold and crossing upward on the 60min chart.
Why do I believe that we'll find a higher low:
1. I think there was capitulation at the 6k level.
2. I think we just had wave a of 5 (elliottwave) and I want in on the c wave as it will likely be the strongest of this move.
3. I think
btcusd is ultimately going higher.
Why do I believe that we'll find a higher low:
1. I think there was capitulation at the 6k level.
2. I think we just had wave a of 5 (elliottwave) and I want in on the c wave as it will likely be the strongest of this move.
3. I think
btcusd is ultimately going higher. 
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.