$BTCUSD - Simple Long on the Losers Dime
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If you pop over to CT - you get a myriad of different calls from the talking heads about sweeping lows, new lows, 3k incoming, BTC to 1k, etc etc.
You can imagine where these people are setting their bids - my aim is to front run them by using out most recent swing low, as i believe the big players will want to generate liquidity by running those stops, and avoiding any of the crowded targets mentioned above.
Theres a small volume gap with a nice OB to use as support, right below the recent swing low ( green box ) and i will be layering my bids in this area.
I do not think we will take out the lows, so ill place my stop there.
Looking to close somewhere in the gray box above.
You can imagine where these people are setting their bids - my aim is to front run them by using out most recent swing low, as i believe the big players will want to generate liquidity by running those stops, and avoiding any of the crowded targets mentioned above.
Theres a small volume gap with a nice OB to use as support, right below the recent swing low ( green box ) and i will be layering my bids in this area.
I do not think we will take out the lows, so ill place my stop there.
Looking to close somewhere in the gray box above.
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A deeper look into the reasoning behind this position:Almost 4000 coins margin long in the last 7D 8H
Price has made 3 consecutive HL's since the swing low were targeting.
Ask yourself, if you were one of these traders, where would you place your stop?
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Also ask yourself, if i am still on the sidelines, and i watch this swing low break - where am i looking to buy?My bet would be you're targeting one of the crowded trades i mentioned earlier.
Toss in the fact that we will have a group of late bears shorting this area, and we have the perfect recipe for a nice bounce.
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Bearish Engulfing daily in the worksNota
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Someone just opened a 750BTC short lolNota
This was just downright rude lol.. this is who were playing against guys, spend 2 days lulling you to sleep with low volume bullish pattern ( ascending triangle ) and start ramping up the volume right at the daily close. Once it opens "pop the stops" and then crush it downwards - dont fall for this stuffNota
I really try to avoid using indicators if possible, except for a last level of confluence, but heres some bull divergence on both ETH and BTCTrade attivo
Bids filledNota
Falling Wedge w RSI Divergence + SFP ?Nota
Worked out fantastically
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Im just as happy as the rest of the crypto world about this, but i am definitely hedging my position here, will close the hedge once the market makes a HL
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