BTC Slingshot Incoming!!!
BTC is currently attempting to eat through a bit of a supply block, I am looking to place a trade on 2 assumptions here:
1. BTC fails to eat through this supply zone around the 44.5k ~ Mark
2. BTC recovers from a lower demand zone in conjuctions with the 50 and or 618 fibonacci zones
I like to call this the BTC Slingshot, I much prefer to buy the pullback rather than the breakout with wider stops leaving room for stop hunts. (This strategy has changed over the years, I am no longer about tight stops)
Estimated play out time 1-2 Weeks
Good 4:1 R:R , as always DYOR
Happy Trading and stay safe!
1. BTC fails to eat through this supply zone around the 44.5k ~ Mark
2. BTC recovers from a lower demand zone in conjuctions with the 50 and or 618 fibonacci zones
I like to call this the BTC Slingshot, I much prefer to buy the pullback rather than the breakout with wider stops leaving room for stop hunts. (This strategy has changed over the years, I am no longer about tight stops)
Estimated play out time 1-2 Weeks
Good 4:1 R:R , as always DYOR
Happy Trading and stay safe!
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