Trading the trendline retest.
High risk opportunity. (Do not scale in if already in a position as this is very close to previous entry/Only scale in if you have accepted the risk)
I think it's a good time to be looking for longs to catch a move breaking all times high again to put in a +100% move within 4 weeks. Every previous occasion BTC has properly broken all times highs it's done a +100% move within 4 weeks. It's flirted with a proper breakout which I believe may be coming soon.
$200k final target
$140k first target
High risk opportunity. (Do not scale in if already in a position as this is very close to previous entry/Only scale in if you have accepted the risk)
I think it's a good time to be looking for longs to catch a move breaking all times high again to put in a +100% move within 4 weeks. Every previous occasion BTC has properly broken all times highs it's done a +100% move within 4 weeks. It's flirted with a proper breakout which I believe may be coming soon.
$200k final target
$140k first target
Trade is no longer valid due to the upper trendline break.
Due to the trendline break we could simply retest support (green) and go up from there. However I don't like this trade idea very much and would rather weight until some clearer manipulation of where I see a large volume of stop losses more likely to be....so I am now looking for a move down to the same region but it needs to happen in channel/wedge formation. It can't just sink in as I don't trade that way in this particular circumstance.