BTC is making good moves within the channel, but the 4-hour chart still indicates a downtrend. The main resistance level is located between 27.2-27.5k. Additionally, there was a strong bounce from 25k, and if buyers continue to purchase, the potential target could surpass local 27.2 and then 28-29-30-32k. At the moment, it appears that the 27.2 resistance level will be broken soon and then longs are more accurate. If not, then short.
Was writing this in the morning, but now it's evening. Anyways, information is still actual.
Share your thoughts in the comments!
Was writing this in the morning, but now it's evening. Anyways, information is still actual.
Share your thoughts in the comments!
Note
We have entered the resistance zone. I see that by clusters on 1h, but the 4h is fine, we need to close that 1h and 4h candle to make a decision.Note
To clarify 1h need to stay above 27,2. But I'm not sure if happens, because we already see a big resistance on 1h.Trade active
What about my long positions? I bought at 26.5k and 26.8k, and additionally bought once the breakout occurred at 27.2k. So my stop loss (SL) is actually a take profit (TP), and my TP is placed at 26.9k as I'm waiting for a strong upward impulse. These impulses can only be expected after breakouts occur.Note
The resistance on the 1-hour chart is increasing, and I'm unsure if the breakout impulse will continue. I'm not manually closing or adjusting any portion of the position at the moment. My take profit (TP) is set at 26.9.Trade active
We just hit a 27.5k!!! When the 1h is closed I put my TP at 27.3k ;)Note
27.7k daammmnsonNote
On the cluster chart the resistance level between 27.2-27.4 has now turned into a support level. Currently, I observe a new resistance forming around 27.8k.Trade active
The first target at 28k reached - 25% closed.Trade active
Took the second 25% at 29kTrade active
25% at 30k. The last 25% Ill hold for 31-32kNote
FunFact: you could easily join the ride with a SL under the last 1h candle ;)Trade closed manually
TARGETS REACHED. 31k here we at! The last 15% fixed and I left some (10%) for something more..
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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.