BTCUSDT at 4h support, likely to head towards 70k

Jul 18

Here is a trade idea on BTCUSDT. The price has moved well from the low it had made a couple of weeks back. It has shown strength while moving up and now facing some struggle at the daily resistance and currently resting on 4h support. The price is likely to bounce from this support and head towards weekly resistance WR1 which is around 70k. Therefore, lets take this long trade. We will monitor the price action and manage the trade on the way accordingly.

Jul 21

Note

Now the price has moved to the weekly resistance what was also our expectation since the price was trading around 4HS1. The price also almost tapped LTFS1 before moving further to WR1 and that move also we predicted. Although that did not have any impact on our trade as we did not utilize that. I am closing most of my position here and will look for another setup.