BTC waiting for price to follow volume
All going according to plan so far, a healthy pull back was needed with the volume stuck in a rising wedge during that attempted breakout. Volume now finding support on the top side of distribution channel trend, price finding support within triangle. MACD looking like we could break trend too, following the volume divergence and with the fast EMA about to cross 0, adding for me another buy signal. I will be following the green arrow up, or if the supports fail, worst case scenario in the near term following the blue arrow down.
I see good risk reward placing an order here, with a stoploss below the bottom price trend, will be looking for buy setups on lower time frames. 50% Take profit at 45, the balance at 47.5
Hoping this is the start of a longer accumulation phase, but playing it cautious as BTC seems to be tightening within a macro consolidation triangle, so taking profits intraday
Always follow your own trading plan, this is mine - rather than financial advice
I see good risk reward placing an order here, with a stoploss below the bottom price trend, will be looking for buy setups on lower time frames. 50% Take profit at 45, the balance at 47.5
Hoping this is the start of a longer accumulation phase, but playing it cautious as BTC seems to be tightening within a macro consolidation triangle, so taking profits intraday
Always follow your own trading plan, this is mine - rather than financial advice
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Trade closed, targets reached perfectly
