Bitcoin Long Set-up
The 9.3k level was the first level of support and first place that bitcoin may bounce before the next leg up of this bull run.
It's impossible to say without a doubt if this will hold or not, as I was hoping for a bounce rather than a continual retest of the support, however with the short term bullish divergences present in confluence with this level being a fairly key one, I think that a long entry here with a stop below 9200 is a decent bet. There's is a fair chance that it will not hold, however, and the next level in which I'll be placing bids in that event are 8,860-9,000. If that level breaks down, especially on high volume, we will rethink our bullish bias for the time being.
Entry: 9280
Stop: 9240
First Target: 9600
It's impossible to say without a doubt if this will hold or not, as I was hoping for a bounce rather than a continual retest of the support, however with the short term bullish divergences present in confluence with this level being a fairly key one, I think that a long entry here with a stop below 9200 is a decent bet. There's is a fair chance that it will not hold, however, and the next level in which I'll be placing bids in that event are 8,860-9,000. If that level breaks down, especially on high volume, we will rethink our bullish bias for the time being.
Entry: 9280
Stop: 9240
First Target: 9600
Note
Another thing to note: the hidden bullish divergence will only be valid if we bounce here. Which is why my stop is so tight. If bulls lack conviction in the next few hours, 8.9-9k is much more likely.Trade fermée: ordre d’arrêt atteint
And that's why I had a very tight stop. Will be looking to see how price reacts at 8.9-9k before making another decision. Celebrate your small losses. Part of winning as setting stops that when price hits, it continues. A bad stop is one that gets hit and then price reverses.
Note
After taking a closer look at the daily chart, there's a pretty significant bullish divergence that will makes 8.9-9k a very attractive buying opportunity.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.