Long

$BTC

Updated

Update on my last idea;
BTC still holding above 48k.
If we close below, I'll close and short towards the bottom of the range around 44k.

If we close below and then above once again, I'll simply re-open a long.

So far so good.

Note

Moved my target to 55.8k, as I believe that 51.3k won't be a strong resistance anymore.

Note

Bad close on BTC.
Will look to long we close above 50.5k.
For now taking profit.

Trade closed manually

Seeing 2 options here.

If we lose 46.8k, I expect BTC to test range lows at 44k with a possible wick towards the Monthly open around 42k.

If we manage to stay above 46.8k, then I believe we will move towards 50.5k, where 50.5k will be a weak resistance. Flip that and we see 55.8k

Note

How I'd trade it.

Note

Holding 47k shows a strong sign of strength.
Upwards scenario more likely if we can keep holding it.

If not, 44k next.

Note

47k held. Look good.
If we can flip the Weekly Open, I'll long.

Flat for now.

Note

Still flat. Weekly open acted as resistance as expected.
No triggers yet.

46k level is very important imo. Lose that and I'll look for shorts with 44k, 42k and Monthly open as targets.

Only longing if we reclaim Weekly open.

Note

BTC moving in this channel as it seems.
Another point of confluence as to why the 0.5 fib (from the top to bottom) at 46.8k is so important.

Note

Punting a small long here. Will close if we get a close below the range low.

Note

Looking good.
Not a single close below the range low.
Not even on the 1h timeframe.

Note

If BTC closes under 48206, i'll stop the trade in profit and wait until it reclaims the diagonal resistance.

Trade closed manually

Trade closed here at Monday's range low!

I'll re-buy if we reclaim the range low.

GACXBT

Related publications

$BTC

by GACXBT

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