Bitcoin is breaking out of the daily wedge with a tiny volume increase. Very dangerous, as I have mentioned prior. However, here is my plan: entry long with 50% size at the 1H or 4H close above the wedge, then add 50% to it at the retest, if such an opportunity presents itself. Furthermore, if it fails and becomes fakeout, it will present an incredible shorting opportunity. Will talk about targets in tomorrows video. Happy hunting and never let your losses run too long. Always excercise proper and suitable RM and always close the trade or flip the trade if the market is telling you to. Cheers.
Quick update on bitcoin: the 6th of July hoax turned out be nothing but a fun conspiracy theory. 😝 We are seeing a very aggressive breakout out of the wedge that I mentioned in todays video. A textbook break-retest-continuation. HOWEVER, I am still standing by what I said in all my videos. We have huge resistance coming in at 20k (seeing a rejection now), then at 21K or so we have 200 week MA which will serve as huge resistance as well. I am on the sidelines. I dont want to burst your bubble. Dont copy what I do. I simply share my thoughs. And I am human, I can be wrong as well. It could turn out to be a bottom and we are on our way to 30k as a long avaited mid bear market bitcoin rally. We cant rule it out. I am just not convinced. In these kinds of market circumstances, I would preffer to either take small scalp trades up and down, or take bigger swing trades (which is what I have been doing mostly in the last weeks) into trend, meaning - shorting. Stay safe and enjoy the volatility! 🤩🤩🤩
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More info when you click the link! ✅
Remember that MetaTrade is great for copy trading, but also for trading in general! Their fees are super low and the platform is great as well!
‼️ LASTLY - diversify, dont keep everything at one exchange! Especially during these uncertain times. ‼️
Here is a 15 minute chart. The wedge is about to break either above or below. I will scalp trade both scenarios. There is some small volume coming in supporting the narrative that the break is coming. In case of break upward, I will have TPs at 19,640 (previous all time high), then at 20k, and lastly around 21k. In case if we break down its a bit more complicated to have a precise target, I would say that the first one could be around 18600, then 18200 (the weekly support level that I showed in my vids), and then 17600 (the local low), or even lower since we are in a bear market. Just wanted to share these setups with you guys and girls. Happy hunting.