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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.
BITSTAMP:BTCUSDShort
by rrithe9
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.
by CryptopreneurSK