Bitcoin
BTCUSDT
looks like it may need a pullback. There's a bullish bat pattern that can be seen on the 15 min chart Beginning with the impulsive move that resulted in the 15min 200ma breakout around 8640 on Binance. We just produced a marginal higher high, and then a lower high on a breakdown of a consolidation pattern.
The bat pattern would place the PRZ at approximately 8678 (86% retracement). The quick impulsive bullish move late in the evening of the 23rd has made a "B" shaped volume profile with some anomalies toward the bottom high-volume area. This is just below the PRZ and corresponds to the 200ma on the 15min (as well as the value-area low of the last two trading days). Good reason to think this area acts as support, at least on the first touch. My entry will be 8680, stop is a 15min close below the 200ma. The CM_vix_fix on the bottom may flash a buy signal near the PRZ that could potentially influence my entry if volume was high enough. We can also watch for bullish divergence on the RSI (above) and/or the william%R/stochastics if we aren't sure we want the classic entry.
Scalp target is ~8870 (61.8% retrace of C-D leg of bat pattern). 8800 is a good spot to take a little profit if your trade plan calls for that sort of thing. Intermediate term, we are right in the thick of things, so holding a whole bunch of coins for the continuation upwards here is not really my cup of tea. Rather scalp these moves and buy either the breakout or a larger pullback myself.
BTCUSDT
looks like it may need a pullback. There's a bullish bat pattern that can be seen on the 15 min chart Beginning with the impulsive move that resulted in the 15min 200ma breakout around 8640 on Binance. We just produced a marginal higher high, and then a lower high on a breakdown of a consolidation pattern. The bat pattern would place the PRZ at approximately 8678 (86% retracement). The quick impulsive bullish move late in the evening of the 23rd has made a "B" shaped volume profile with some anomalies toward the bottom high-volume area. This is just below the PRZ and corresponds to the 200ma on the 15min (as well as the value-area low of the last two trading days). Good reason to think this area acts as support, at least on the first touch. My entry will be 8680, stop is a 15min close below the 200ma. The CM_vix_fix on the bottom may flash a buy signal near the PRZ that could potentially influence my entry if volume was high enough. We can also watch for bullish divergence on the RSI (above) and/or the william%R/stochastics if we aren't sure we want the classic entry.
Scalp target is ~8870 (61.8% retrace of C-D leg of bat pattern). 8800 is a good spot to take a little profit if your trade plan calls for that sort of thing. Intermediate term, we are right in the thick of things, so holding a whole bunch of coins for the continuation upwards here is not really my cup of tea. Rather scalp these moves and buy either the breakout or a larger pullback myself.
トレード稼働中:
This was a nice overnight trade. The PRZ worked beautifully and the reversal was strong enough that I only took 1/4 off at the 61.8 retracement, letting the rest ride through the higher low. Looks like we may see continuation today, which is great for BTC. Still long here.