Long

BTC correction over?

Updated

Bitcoin dumped pretty badly and touched a low of 7,610
At hourly, what we've have is a bullish hammer followed by a green confirmation candle.

This implies that a reversal is in place and allow opening long trades.
I'm waiting for confirmation candle to finish before opening any new position.

I'll share my buy price once this candle is over. Happy trading :)

Note

Just a heads up, we've to close this hourly candle green in good shape or no longs.

Trade active

8,749

Note

This trade is going in the right direction. We need to give it some time to develop.

Note

We've met resistance at 9,050 ... Set stop loss at 8.350

Note

Price is moving sideways now. We're lacking volume to push the price beyond resistance. let's wait.

Note

Those who still have this trade open. Short term profit targets are:

1st: 9049
2nd: 9969

Note

Volume isn't strong and we're going sideways. We're currently near our buy in range. Use stop loss.

Note

1st target reached, volume is building up.

Note

Based on low volume and FUD in market, our second target will likely not met.

I'm closing this trade for now.

Trade closed manually

CryptoNo0b

Also on:

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.