Bullish setup of BTC on 1H(approaching zone)

٣٠ يناير ٢٠٢١

This is a momentum play and price came back to the control low zone formed yesterday.

the entry area is my previous short entry zone, so it's sort of flip.

Trigger:
smaller TF, say 5min reversal pattern showed up

٣٠ يناير ٢٠٢١

تم فتح الصفقة

May get a entry here. my concern is that price didn't close above the 120 MAs(5m). So, it's a bit aggressive entry.

٣٠ يناير ٢٠٢١

ملاحظة

Price is coming towards target 1. Already 1:2

٣٠ يناير ٢٠٢١

ملاحظة

Basically, my aggressive setup gave us at least 2R. This is the analysis of when to exit on the 5m chart.

٣٠ يناير ٢٠٢١

ملاحظة

After the key structure on the 5m violated, now sellers are buyers are battling.

٣٠ يناير ٢٠٢١

ملاحظة

I'd like to watch the price movement. Although it's 5 min chart, the tactics are pretty much the same for 30m, 1h, 4h, daily and even weekly and monthly.

٣١ يناير ٢٠٢١

أغلقت الصفقة: تم الوصول للهدف

Target 1 hit.

٢ فبراير ٢٠٢١

ملاحظة

Now, BTC moved between a relatively small range for the past 3 days. Both buyers and sellers are hesitated to take further actions.

٢ فبراير ٢٠٢١

ملاحظة

Finally, break the small range area, now it's on the way to target 2. I'm actually looking for a pullback opportunity.

٤ فبراير ٢٠٢١

أغلقت الصفقة: تم الوصول للهدف

Target 2 hit.