BTC - Wait to Buy/Long
Although it looks more rewarding on the short position, I do not suggest to go in on short because BTC uptrend structure has not been broken yet on a 1H timeframe. The strategy is to wait for buy
Two Scenarios;
1) If BTC breaks 38k, wait for a retest around 38k and buy when reversal candle happens
2) Wait for a retest at lower bound of trading range at 35.7k and start scaling in Long position from 34.8k and 35.7k
TP at 40k for the 1st Scenario
TP at 38k and 40k for the 2nd Scenario
SL at 38k for the 1st Scenario
SL at 34.8k for the 2nd Scenario
Two Scenarios;
1) If BTC breaks 38k, wait for a retest around 38k and buy when reversal candle happens
2) Wait for a retest at lower bound of trading range at 35.7k and start scaling in Long position from 34.8k and 35.7k
TP at 40k for the 1st Scenario
TP at 38k and 40k for the 2nd Scenario
SL at 38k for the 1st Scenario
SL at 34.8k for the 2nd Scenario
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