BTC Long - not one of the "best set-ups" however, High R/R
Updated
Here's what I got guys. I was bearish on bitcoin because of the very obvious bearish divergences (which are still present, however, can be broken if we get a pop on volume here.
Here's a nice support zone in green, which has proven to be good support further off this graph. We have a pendant that has the potential to break upwards, and if not, your tight stop will keep the losses small.
There's a decent chance of breakdown, as I have said, however this is a bet I am willing to make. If we do not break up here on volume, the bearish divergence will be set for another day.
Let's see what happens.
Here's a nice support zone in green, which has proven to be good support further off this graph. We have a pendant that has the potential to break upwards, and if not, your tight stop will keep the losses small.
There's a decent chance of breakdown, as I have said, however this is a bet I am willing to make. If we do not break up here on volume, the bearish divergence will be set for another day.
Let's see what happens.
Comment
9700 is our new resistance buy at resistance and feel safe. Cut losses below. Remember support "lines" are never hard and fast either. They are more like zones. Watch how price interacts with resistance "lines" or better yet find a zone.Comment
Give yourself a little breathing room when buying at resistance as they are just "zones" so don't bang out 50x leverage right on the line lol.Comment
9700 is new *support* correctionComment
Pendant didn't work out too well but 9.6-9.7 should act as very strong support today. We will likely range between 9.6k and 9.8k in accumulation for the next moonshot.
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