BitcoinShort
Opportunity for a scalp
Since we haven't had much price action after the ETF decision, a trader must look for opportunities wherever he or she can find them.
Yesterday we managed to maintain a slight upwards trend. On the 30m timeframe we can see that ema9 hasn't crossed sma20 in almost a day, which is not common. The uptrend that is holding the price is very steep now (marked by the red line on the chart) and we could have, at least, a small 100 usd dump any moment now. A few moments ago we timidly broke that uptrend, so it is a good time to start opening a position. I did it with 1/3 of what I am willing to stake on this trade, have a target of around 6430.
The orange line marks a resistance we formed on the past 10 days on the 4h timeframe and could possibly act as a support on this smaller timeframe.
Trade carefully, look for opportunities to add up to the position of we hit other key resistance levels such as 6620.
Remember to always trade with stop loss in place.
Good luck!
Yesterday we managed to maintain a slight upwards trend. On the 30m timeframe we can see that ema9 hasn't crossed sma20 in almost a day, which is not common. The uptrend that is holding the price is very steep now (marked by the red line on the chart) and we could have, at least, a small 100 usd dump any moment now. A few moments ago we timidly broke that uptrend, so it is a good time to start opening a position. I did it with 1/3 of what I am willing to stake on this trade, have a target of around 6430.
The orange line marks a resistance we formed on the past 10 days on the 4h timeframe and could possibly act as a support on this smaller timeframe.
Trade carefully, look for opportunities to add up to the position of we hit other key resistance levels such as 6620.
Remember to always trade with stop loss in place.
Good luck!
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