Bitcoin possible retracement levels based on 12H emas

٥ أغسطس ٢٠٢٠

Longed 11440 this morning after the 12H and 4H close above the local resistance at $11,425. Got out at $11,680. Based on price action, slope of emas and momentum it looks like there will be a push up to 11.8k-12k. So, probably got out a bit too early here. I'm looking to get back in on a quick wick retest of $11,250-$11,450 or a clear break (4H close or higher) above 11.8k on a 12H. If we look back at may there was a similar pattern after the pump. If you want to call it a fractal thats fine. I just think it looks similar to where we are now. Assuming this does retrace and doesn't break 12K today, I'm looking to jump back in at one of these emas.

**PSA - This is bitcoin, not Microsoft, so price can dump 20% in minutes. Lower leverage or static stops are required. No guarantees here and not financial advise., but wanted to share how I am looking to jump back in. The purpose of these posts is to share my ideas so that I can improve as a trader. The plan is to actually trade these ideas and not just sit back and pat myself on the back when it "would have worked out" **