FET - Pivotal Area: Bulls Need to Wake Up!
Updated
If there's any chance of a turnaround, it has to be from these levels.
If the price breaks below $1, I’ll consider opening a short position targeting the most recent low of $0.80.
However, the overall picture looks more promising, so I’m looking to go long between $1 and $1.08 as the first play. If this level fails, I’ll switch to a short position, especially if
BTC falls below 56k.
I’d also welcome a period of consolidation above $1 to reestablish this level before aiming for new highs.
To simplify:
- Bullish bids above $1
- Bearish sells below $1 :)
If the price breaks below $1, I’ll consider opening a short position targeting the most recent low of $0.80.
However, the overall picture looks more promising, so I’m looking to go long between $1 and $1.08 as the first play. If this level fails, I’ll switch to a short position, especially if
BTC falls below 56k.I’d also welcome a period of consolidation above $1 to reestablish this level before aiming for new highs.
To simplify:
- Bullish bids above $1
- Bearish sells below $1 :)
Trade active
Let’s go!
It looks rough, but it's all part of the plan.
Execute now or face the consequences later.
Or
Experience even more frustration once you get stopped out :)
BTC should hit $57.7 and hopefully find a reaction at that level. Let’s keep our fingers crossed.
Trade active
What a beauty!
Time to relax after nailing this one.
Take some profits and enjoy the weekend!
Note
Nothing has changed. I'm still in the trade, waiting for it to reach the target.
The positive aspect of the current price action is that it remains above 1.10, and I expect it to stay above this level until the US jobs data is released on September 6th.
September will be crucial for the market, so be prepared.
___________________________
I haven't re-entered or added anything since taking the initial profits. The trade is progressing more slowly than the previous impulse, so there's no need to complicate things further when our entry was spot on.
Trade active
Taking this small scalp here.
I was waiting for the retrace into the monthly and macro support. It should hold and move from here, or the market is wrong.
BTC is currently battling the 57k support area. If it loses that area, this will be quickly invalidated.
Trade closed: stop reached
What a bummer!
I got stopped out, but we had secured some profits earlier, so it’s not a total setback.
Given the current trend, I’m planning to re-enter the position since it still looks promising.
Note
This was a beautiful trade.
One to remember as I was the liquidity for the move up :)
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