Keep it simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
At this point you should have taken a LOT of profit by now on your BTC longs if you entered at the Green box. BTC did a perfect retracement to a previous support level and held.
For those that didn't, the hold at the first orange box is a good spot for a re-entry or add to your longs, where you would of hit your first profit target at the second orange box. If you are not in a long position I would wait to see if a re-test and hold of the 7300's happens. If so i would set longs at the low of this range with a tight stop loss.
I have also added the two levels above a NEW ATH that I see BTC going - 25000-30000 USD is the futuristic goal for BTC to hit based of this retracement that BTC made.
Short term i'm bearish for the re-test of 7300's - long term im very BULLISH for a new ATH.
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
At this point you should have taken a LOT of profit by now on your BTC longs if you entered at the Green box. BTC did a perfect retracement to a previous support level and held.
For those that didn't, the hold at the first orange box is a good spot for a re-entry or add to your longs, where you would of hit your first profit target at the second orange box. If you are not in a long position I would wait to see if a re-test and hold of the 7300's happens. If so i would set longs at the low of this range with a tight stop loss.
I have also added the two levels above a NEW ATH that I see BTC going - 25000-30000 USD is the futuristic goal for BTC to hit based of this retracement that BTC made.
Short term i'm bearish for the re-test of 7300's - long term im very BULLISH for a new ATH.
Commento:
So far BTC has come down as I said it would and holding the important range. If this doesn't hold further downside is going to happen.
Commento:
BTC has continued to hold the range I drew many months ago now. And we are on way for the 8200-8500 range. This is the short term profit target on this swing for now. With a possible rejection at the 9000 range.