Bullish setup of BTC on 1H(approaching zone)

Jan 30, 2021

This is a momentum play and price came back to the control low zone formed yesterday.

the entry area is my previous short entry zone, so it's sort of flip.

Trigger:
smaller TF, say 5min reversal pattern showed up

Jan 30, 2021

Trade active

May get a entry here. my concern is that price didn't close above the 120 MAs(5m). So, it's a bit aggressive entry.

Jan 30, 2021

Note

Price is coming towards target 1. Already 1:2

Jan 30, 2021

Note

Basically, my aggressive setup gave us at least 2R. This is the analysis of when to exit on the 5m chart.

Jan 30, 2021

Note

After the key structure on the 5m violated, now sellers are buyers are battling.

Jan 30, 2021

Note

I'd like to watch the price movement. Although it's 5 min chart, the tactics are pretty much the same for 30m, 1h, 4h, daily and even weekly and monthly.

Jan 31, 2021

Trade closed: target reached

Target 1 hit.

Feb 2, 2021

Note

Now, BTC moved between a relatively small range for the past 3 days. Both buyers and sellers are hesitated to take further actions.

Feb 2, 2021

Note

Finally, break the small range area, now it's on the way to target 2. I'm actually looking for a pullback opportunity.

Feb 4, 2021

Trade closed: target reached

Target 2 hit.