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angela_altair

BTCUSDT at daily support, likely to bounce to at least 70.5k

Long
BTC / Tether PERPETUAL FUTURES (MEXC:BTCUSDT.P)  
angela_altair Updated   
MEXC:BTCUSDT.P   BTC / Tether PERPETUAL FUTURES
Trend Analysis Chart Patterns Technical Indicators BTC BTCUSD BTCUSDT BTCUSDTPERP btcusdtlong btcusdtidea btcusdttrade btcusdtanalysis
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trendanalysis chartpattern indicator btc btcusd btcusdt btcusdtperp btcusdtlong btcusdtidea btcusdttrade btcusdtanalysis
Here is a new trade idea. The price pushed up after bouncing from weekly support and headed towards daily resistance DR1. The price however got stopped at DR1 and got pushed down immediately from there. On this drop it hit the daily support DS1 from where a bounce was likely. We already see that bounce going on. Therefore, a long from this daily support zone is favorable as the price is likely to head towards daily resistance DR1 again. Since the price has already bounced from the support, I have a small position size at the moment and I would add to my long when the price revisits this support zone again. The price has a probability to go beyond that daily resistance DR1 and aim towards weekly resistance WR1. But lets focus first on the first part.
Trade closed manually:
Closing this long as the price action dos not exudes a lot of confidence. We will look for the next setup.
snapshot

Related Ideas

angela_altair
BTCUSDT to hit resistance around 70.5k and drop towards 67k
angela_altair
BTCUSDT is at 4h resistance now, may experience some struggle
angela_altair
BTCUSDT close to 4h support, likely to bounce towards 70k
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