BTC short-term long position
Since yesterday, the 29,500 support has collapsed downward,
and short-term support is also occurring at the 29,100 support, which is the 0.382 line.
(Please refer to the sky blue support zone.)
Therefore, you should enter a long position with a stop loss (SL) at the current low of 28,863. However, all long positions must have their first take profit (TP) set to the previous support level, which is 29,500 to 29,600.
As the current buying position, both the weekly and daily charts are not looking favorable, and there is still only short-term support with insufficient trading volume.
Therefore, it is important to be prepared for the possibility of a crash occurring at 0.5 or 0.618 levels at any time.
For long positions, it is necessary to set all take profits (TP) as short as possible.
From a bullish perspective, it is not too late to open long positions even after a retest of the 29,500 to 29,600 level has occurred.
For additional chart images, you may refer my Korean idea chart images.
and short-term support is also occurring at the 29,100 support, which is the 0.382 line.
(Please refer to the sky blue support zone.)
Therefore, you should enter a long position with a stop loss (SL) at the current low of 28,863. However, all long positions must have their first take profit (TP) set to the previous support level, which is 29,500 to 29,600.
As the current buying position, both the weekly and daily charts are not looking favorable, and there is still only short-term support with insufficient trading volume.
Therefore, it is important to be prepared for the possibility of a crash occurring at 0.5 or 0.618 levels at any time.
For long positions, it is necessary to set all take profits (TP) as short as possible.
From a bullish perspective, it is not too late to open long positions even after a retest of the 29,500 to 29,600 level has occurred.
For additional chart images, you may refer my Korean idea chart images.
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