BTCUSDT Long Trade Idea - 5:1 RRR
BTC/USDT - 5:1 RRR Long
Team: OnyxCrypto
Trader: Nick Deflorio
Looking for more downside here before taking a long position, I can see price moving straight through those equal lows, simply because there would be a large group of the market buying the ''support'' level, this is where liquidity is stacking in the form of sell stops below that equal level.
Will look to bid below the imbalance and into the level of demand, targeting the equal highs built most recently.
If this level of demand is broken, could see a huge bearish move to weekly lows.
5:1 RRR
Stop Loss in a clean level of invalidation.
Team: OnyxCrypto
Trader: Nick Deflorio
Looking for more downside here before taking a long position, I can see price moving straight through those equal lows, simply because there would be a large group of the market buying the ''support'' level, this is where liquidity is stacking in the form of sell stops below that equal level.
Will look to bid below the imbalance and into the level of demand, targeting the equal highs built most recently.
If this level of demand is broken, could see a huge bearish move to weekly lows.
5:1 RRR
Stop Loss in a clean level of invalidation.