BTC breakout BullFlag LONG setup

Self explanatory LONG setup with stop loss near pivot low
manage trade heading into premarket
TP#1 just before pivot high, adjust stop loss after 1st target hits (or trail stop)

Commentaire:

favoring the ending a a 5-wave sequence

we await to see what happens after
MANAGE your trade with SL, BTC is trading at very high levels were anticipating a massive correction sooner or later

Commentaire:

Be aware, they can wick down for liquidity, so either keep the SL wide, or, put another Long order right around the lower trendline with a stop loss bit further from the pivot low

Commentaire:

zooming in, this could just be the first move, if we do wick down, it can justify and favor the count

Commentaire:

the bearish view is that the 5 wave sequence was already completed and the bounces have been a 1-2,1-2 bearish setup
so, recognize the importance of managing risk with SL

Transaction en cours:

✅ Target #1
played out well,
adjust SL to 51k-52k as u deem fit. keep some distance for the wave iv pullbacks, if it fails (retraces more than 0.5 the move, its invalidated and over)

Trade fermée manuellement:

let the sharks figure it out in these deep waters