BITCOIN USDTgoing long on support. Time frame is 15 min. Took an entry on retest with just 40 points Sl for the target of 600 points. Will keep trailing Sl using 1 min frame in case if the trend has reversal. Just a basics knowledge of Support/Resistance or Supply/Demand with any indicator that to me mastered thats all we need.
Bitcoinpricetrendanalysis
BITCOIN USDTAs per my setup 1 hour short trade is placed near the resistance post the breakdown has been done with a large candle. So my R-R is not good here if I enter right away at ay candle as trading is 90% psychology with Risk management without FOMO. I have placed a short order near the resistance area if the price reaches there for retest would be a good thing & if not I do not want to chase any trade randomly and lose more than what I should, learning lessons through my previous experience and sharing it here as my notes. SL here is 200 points & reward is 1600 points so I dont mind taking series of losses because I only prefer high probability trades. No shame in taking SL and no Pride if targets are achieved, this is a game of probability let us play it this way.
BITCOIN USDTTook an entry after a retest as this always works to enter any trade if there is a long candle after its retest so that if our SL is triggered it is always small and enough for us to be confident to enter another trade without any hesitation. The horizontal line clearly points out the supply zone as per my setup. I avoid news, other traders analysis to trade so that my mind is not covered with over analysis.
BTC INTRADAY SETUP - 30th AUG, 2021BTC INTRADAY UPDATE:
VOLATILITY EXPECTED : HIGH
EXPECTED SCENARIO:
#BTC should test our SUPPOPRT1 and a small bounce is expected at that level.
SUPPORT1 may not hold today.
BULLISH SCENARIO:
$BTC has to cross our INTRADAY FLIP line to be bullish. which is quiet difficult today.
BEARISH SCENARIO:
$BITCOIN may not hold at SUPPORT1 and we test our SUPPORT2.
SUPPORT2 should #HOLD today.
NOTE: As updated earlier, we are in a correction on 4H upto 42k zone.
BZRX USD broke OUT! BZRX showed wonders in the 2017 BULL run, many analysts are still expecting the same to happen. Lets see. Give a LIKE and FOLLOW if you agree with my idea.