Bitcoin possible retracement levels based on 12H emas
Longed 11440 this morning after the 12H and 4H close above the local resistance at $11,425. Got out at $11,680. Based on price action, slope of emas and momentum it looks like there will be a push up to 11.8k-12k. So, probably got out a bit too early here. I'm looking to get back in on a quick wick retest of $11,250-$11,450 or a clear break (4H close or higher) above 11.8k on a 12H. If we look back at may there was a similar pattern after the pump. If you want to call it a fractal thats fine. I just think it looks similar to where we are now. Assuming this does retrace and doesn't break 112K today, I'm looking to jump back in at one of these emas.
**PSA - This is bitcoin, not Microsoft, so price can dump 20% in minutes. Lower leverage or static stops are required. No guarantees here and not financial advise., but wanted to share how I am looking to jump back in. The purpose of these posts is to share my ideas so that I can improve as a trader. The plan is to actually trade these ideas and not just sit back and pat myself on the back when it "would have worked out" **
**PSA - This is bitcoin, not Microsoft, so price can dump 20% in minutes. Lower leverage or static stops are required. No guarantees here and not financial advise., but wanted to share how I am looking to jump back in. The purpose of these posts is to share my ideas so that I can improve as a trader. The plan is to actually trade these ideas and not just sit back and pat myself on the back when it "would have worked out" **
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.