Long

BTC/USD, Local Bottom MIGHT Be In

Updated

after a sharp selloff after failing to close a candle within the Supply Zone, Bitcoin has found some temporary support just on top of the Demand Zone.

This could very easily not hold, and we could see it drop to the equilibrium around $6320.

That being said, I have entered a scalp Long position targeting the range high @ $6527.5.

If I get stopped out I will be looking to jump back into a Long position depending on what price action looks like at the time, since this position has a very tight stop and defined risk.

If all goes to plan, I will be looking to close this scalp Long and open a Short position around the range high.

Note

Buyback volume looking fairly weak here, I will be moving stops up to break-even, but I still have some hope that we can flip short around $6500.

Note

Pulled the stop and added a bit around $6350 as that was a very low volume drop.

We should see some kind of bounce here back up to around $6500.

Note

Volume is quite anemic here, put the stop-loss order back in at the previous level.

Note

On to the next one.

Trade closed: stop reached

Crypto_Terminal_Steve

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