Bitcoin Long Idea
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Hi Traders!
As Bitcoin has been trending lower and all my short profits have been locked in on the coin, I have decided to look for a long entry. Be careful with this trade, we are currently trading in the same direction as the legacy markets, we could see a further downside if stocks crash.
Here is my game plan for a potential entry:
- Bitcoin needs to recover above 20k and consolidate
- We need to reclaim 20300
- Small consolidation @20300
- Entry once high on lower timeframes (>5 min timeframes) has been broken
- T1 21k
- T2 22k
- Stop: 19200
The beautiful thing about being right in trading a direction, it helps you to understand when to reverse your position to enjoy the upside.
Before entering this trade, make sure that you manage your risk carefully, and make sure to leave me a follow on Tradingview for more trade ideas.
Best
CH
As Bitcoin has been trending lower and all my short profits have been locked in on the coin, I have decided to look for a long entry. Be careful with this trade, we are currently trading in the same direction as the legacy markets, we could see a further downside if stocks crash.
Here is my game plan for a potential entry:
- Bitcoin needs to recover above 20k and consolidate
- We need to reclaim 20300
- Small consolidation @20300
- Entry once high on lower timeframes (>5 min timeframes) has been broken
- T1 21k
- T2 22k
- Stop: 19200
The beautiful thing about being right in trading a direction, it helps you to understand when to reverse your position to enjoy the upside.
Before entering this trade, make sure that you manage your risk carefully, and make sure to leave me a follow on Tradingview for more trade ideas.
Best
CH
Note
The idea could be valid very fast, and might see some big recovery move in markets. Gold is pumping.Note
Reclaim 20k
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