Bitcoin triggers LONG! YES! Potential long setup Risk/Reward 1:2.5
Not long (about 8 hours) after writing about why I was waiting a bit for a long entry in BTCUSD it triggered long! I'm actually really happy to see this as I am very bullish on cryptos in general (although I only follow price action to trade... not my personal bias, it just feels better to follow my bias, lol).
The entry and exits for this trade will be dynamic which will skew the R:R and I will update as they trigger. I want to be all in at avg 2562.75 POC but it will depend on the price action. 1/3 of the entry has already triggered at 2607.28. As usual, the first target will be at the top of the volume range (blue line). This will adjust as volume flows through the trading session.
Things I don't like about this trade:
Not alot I dont like about this trade... and that alone is something not to like. When trades setup this clean they usually fail. lolz... not kidding.
Things I like about this trade:
1- good long (roughly 1.5 months) consolidation gives time to shake out the weak hands and cause them to get emotional and go short... this in turn could give us a real nice move here on a solid squeeze, even to ATH potentially.
2- POC and 200 have been broken with good volume, are being tested, and are looking to hold already.
3- Order flow is strong to the upside
Now let's moon bitchez.
Disclaimer: This is NOT trading or investment advice. This is simply my opinion to be used for educational purposes only. If you decide to trade you are doing so at your own risk.
If you found value in this post, please upvote and resteem. Let me know what questions you have.
Happy Hunting
all in 2575.45