BTC / USDT Spot Trading PairUpdated BTC about to retest 53k?
H1 close above 49500 bullish for retest of 53k. H4 close (this hour would be it) above and high confidence we reach underside tag of 53k level.
Keep an eye on OBV channel for signs of which way we are going. H4 already showed breakout coming.
Getting closer to a break out. Notice RSI already broke above horizontal level of resistance (still needs to close this hour above). Price is currently retesting ascending triangle diagonal support line.
WAIT FOR H4 CLOSE ABOVE RESISTANCE.
——————————————————————————————
Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.
Please note:
- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!
Keep an eye on OBV channel for signs of which way we are going. H4 already showed breakout coming.
Getting closer to a break out. Notice RSI already broke above horizontal level of resistance (still needs to close this hour above). Price is currently retesting ascending triangle diagonal support line.
WAIT FOR H4 CLOSE ABOVE RESISTANCE.
——————————————————————————————
Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.
Please note:
- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!
Note
breakout and now looking for a throwback for a S/R flip. Most likely will test 53k level and get rejected. I am betting that this range will be our chop zone for about a week or so until Bulls and Bears decide who wants it more.
BTC #bitcoin
Trading bonus:
Phemex: Referral Code= EC7RK2
Phemex: Referral Code= EC7RK2
Trading bonus:
Phemex: Referral Code= EC7RK2
Phemex: Referral Code= EC7RK2
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.