BTCUSDT close to 4h support, likely to bounce towards 70k

23 mag

Here is a new long trade idea. The price got rejected from hourly resistance HR1 after bouncing from hourly support HS1 several times. However, on the last drop on this support, the price broke that support and went southwards. The price will likely bounce from 4h support 4HS1 and will create an opportunity for a long trade towards 4h resistance 4HR1. Lets see how it plays out. Let me know what you think in comments.

23 mag

Nota

Booked partial profit here at hourly resistance HR1 by release the position partially. Will add again if the price pulls back from here towards 67k zone.

23 mag

Nota

And there we had the pullback from hourly resistance HR1 as we expected and talked about in the last post. The price came down quickly from there towards 67k region.

24 mag

Nota

We talked about the price being rejected from HR1 after we booked profit there and then landing around 67k. I have reloaded position there and waiting for the next move to the upside. Hows your trades going?

24 mag

Nota

Our trade is in a very good shape with compound profit. Now it is again pulling back from new HR1 zone. I have booked some profit and add the position back from LTFS1. I think the price will go there before bouncing.

26 mag

Nota

The price has been struggling to move up. The price came close to the target but shied away from it. I have closed this long position for now. I think the price will visit LTFS1 first before any upward push. We will reevaluate again.