BurstBTC - 4H/Daily Trend Continuation
Updated
Burst has recently broken out of the Daily and 4H MA clouds and has been trending upwards. I will be looking to enter positions on a high momentum move to the upside or when price action starts forming closer to the 4H MA cloud.
Trade active
Positions opened with the high momentum move to the upside.Trade closed manually
-20%. Closing positions here as price action is indicating a move closer towards the daily MA cloud ~250 sats. I will look at reopening positions once we arrive at the cloud or price action indicates direction might be changing.Trade active
After retracing back down to the bottom of the 4H cloud, price is forming a Head and Shoulders reversal pattern. Coupled with this, the previous two 4H bars have both bottomed out at the .0351 level which also corresponds to the Tenkan-sen line on the 4h ichimoku cloud. Opening up some positions here with tight stops.
Trade active
Daily View with white doji building.Trade closed: stop reached
Positions closed out on break even when stop loss was hit due to BTC volatility.
Related publications
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.