Is BITCOIN hinting at an upward rebound? Long trade #3
Updated
Hello colleagues! We are continuing our new section of clear trades.
Today we'll talk about BTC. In the previous trade, we correctly identified the direction of the market. However, the market did not give us the opportunity to enter a position where we were safe:
Today, we will try to catch a short-term trade within the consolidation.
Since 15 August, the price of BTC has fallen aggressively by 14%. Since then, BTC has been trading in a narrow range of $25800-26900. Such a weak reaction from buyers can indicate two things:
- The market is very weak and will continue to fall in the short term
- Buyers have organised a range to gain positions and the cryptocurrency market will continue to consolidate for some time.
Given that the price is now near the lower boundary of consolidation, it is quite logical to try to catch a long trade.
Why is the entry point below the liquid range?
As you can see on the chart, we believe that the strong liquid zone is in the range of $25800-25880. However, if you open the 15-minute timeframe, you can see an interesting pattern:
In addition to the fact that trading volumes are growing near the $25800-25880 range, you can see that BTC's local growth begins only after a false breakout of an important liquid zone. After a false breakout, a retest takes place, and only then does the price of bitcoin head towards the upper boundary of consolidation.
Bitcoin is a short-term trade:
Given this pattern, we expect to catch a long trade:
#BTCUSDT
2h
Enter = 25665
Stop = 25276 (- 1.5%)
TP = 26921 (+ 4.9%)
P/L ratio = 3.23
To be on the safe side, part of the position can be bought at $25665, and the other part after the rebound and retest of the $25800 range.
What do you think of this trade and what is your vision of the bitcoin market? Write about it in the comments!
Today we'll talk about BTC. In the previous trade, we correctly identified the direction of the market. However, the market did not give us the opportunity to enter a position where we were safe:
Today, we will try to catch a short-term trade within the consolidation.
Since 15 August, the price of BTC has fallen aggressively by 14%. Since then, BTC has been trading in a narrow range of $25800-26900. Such a weak reaction from buyers can indicate two things:
- The market is very weak and will continue to fall in the short term
- Buyers have organised a range to gain positions and the cryptocurrency market will continue to consolidate for some time.
Given that the price is now near the lower boundary of consolidation, it is quite logical to try to catch a long trade.
Why is the entry point below the liquid range?
As you can see on the chart, we believe that the strong liquid zone is in the range of $25800-25880. However, if you open the 15-minute timeframe, you can see an interesting pattern:
In addition to the fact that trading volumes are growing near the $25800-25880 range, you can see that BTC's local growth begins only after a false breakout of an important liquid zone. After a false breakout, a retest takes place, and only then does the price of bitcoin head towards the upper boundary of consolidation.
Bitcoin is a short-term trade:
Given this pattern, we expect to catch a long trade:
#BTCUSDT
2h
Enter = 25665
Stop = 25276 (- 1.5%)
TP = 26921 (+ 4.9%)
P/L ratio = 3.23
To be on the safe side, part of the position can be bought at $25665, and the other part after the rebound and retest of the $25800 range.
What do you think of this trade and what is your vision of the bitcoin market? Write about it in the comments!
Note
We allocate $10,000 for this tradeIn the event of a mistake, we will lose $150
If the trade is executed, we will receive a profit of $490
Trade closed: target reached
The price reached our goal. However, before that, Bitcoin did not fall to the expected mark of $25665.Has anyone managed to catch this trade? Write your results in the comments!
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okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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