BTC short-term long opportunity?

Sep 22, 2022

I'm currently bearish for BTC, but I examined possible strategies for a long entry because a bullish dragon pattern is detected on the 4H chart.

Recommended Entry condition: breaking out diagonal resistance (green dotted line) & ideally pullback onto it
Recommended TP:
TP1: 20000
TP2: 0.618 - 0.786 Fib Retracement

Criteria for entry (for reference only; trade at your own risk)
Support: Green dotted diagonal line (after breakout); gray box; Gann fan 1/2 (yellow zone); Current low
Gann Fan red zone: wait, or place the stop loss on the support if you already have entered
SL: 17900

Sep 22, 2022

Note

Correction:

TP1: 20000
TP2 The levels of the red box
TP3: 0.618 - 0.786 Fib Retracement

Sep 22, 2022

Note

For aggressive traders: if the candle closed out of the new gray box and above the red resistance line, it would be the first green light.

Sep 23, 2022

Note

For comparison.
Breakout is harder than it looks, though it will become easier with time.
Keep in mind that this is still the baer market.

Sep 27, 2022

Note

update.