BTCUSDT heading towards daily resistance around 72000

21 mar 2024

The price was pushed down by 4h resistance 4HR1 as we were expecting. The pullback happened and the price went below the 4HR1 zone. I believe we still have move to the upside left and soon the price will continue its upward journey towards next resistance 4HR2 and then very likely towards DR1. Now the question is if the price will start moving up from here or does it have some more downside move left. I think the price will not move down significantly. It might reverse from the current level or it can go to the level B marked on the chart in the best entry case scenario. I am scaling my position up between A and B level.

21 mar 2024

Nota

The entry we were expecting and waiting for has been realized. The price has reached and touched our ideal entry level. All my positions have been filled and the trade is in full force. Let us see where we go from here. Are you also on to this trade? Or you think it will go further down from here?

25 mar 2024

Nota

Our trade is doing pretty well right now. I mentioned it in my previous post that I would be booking some profit on the way up and will add on pullback and have done so before. And now again there is a time since the price is at 4h resistance 4HR2. I will book some profit at this level and will look for opportunity to add to the remaining position in case price pulls back from this resustance. Else daily resistance DR1 and beyond is our target. Happy trading and let me know in comments what you think and if you are also in this trade with me.

26 mar 2024

Nota

The price touched the daily resistance before a small pullback. I have closed the remaining position as the trade has achieved the target. I will reevaluate the price action and look for the next trade opportunity. I expect a pullback at this stage of some degree. Not sure what degree it would be but I will share the levels from where the bounce could be plausible on that expected pullback. Lets be ready for the next trade.