Ont trade idea
Updated
Huge reaction to the touch of the bottom support, a long green candle with volume is a bullish sign for sure but don't fomo!
It lost 85% in one month, a bounce is normal, it does not mean it will revers now to ath and it's correcting after such a run.
3000 satoshi is an important level, it did not made a lower high for the first time since june
My plan is to enter on the retest of ~3000 sat level
Targets for a swing trade
~4000sat (0.236 fib) +35%
~5300sat(0.382 fibo) +70%
Stop
~2900sat -4.5%
Risk reward ratio 17.5 !! This is huge and it compensate the lack of confirmations (chances of winning decreases but odds are too good not to take the trade)
If you want to hold long term you can target 7000 and 10000 satoshi
It lost 85% in one month, a bounce is normal, it does not mean it will revers now to ath and it's correcting after such a run.
3000 satoshi is an important level, it did not made a lower high for the first time since june
My plan is to enter on the retest of ~3000 sat level
Targets for a swing trade
~4000sat (0.236 fib) +35%
~5300sat(0.382 fibo) +70%
Stop
~2900sat -4.5%
Risk reward ratio 17.5 !! This is huge and it compensate the lack of confirmations (chances of winning decreases but odds are too good not to take the trade)
If you want to hold long term you can target 7000 and 10000 satoshi
Trade closed: target reached
target reached+36% in a few hours, I missed this
+target well placed, reached by last leg before correction
+happy to have sold it all at first target, now I expect an important retrace with consolidation, I better look elsewhere for next trade
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