Bitcoin bouncing, but is it a trap?

27 Jan 2022

BTC Got the bounce I was looking for off of .5 fib level and LTF horizontal support. 3 levels to look at as we move up.

#1 - Local HL needs to be cleared out.
#2 - 41k resistance needs to be flipped into support.
#3 - Close above last daily LH to signal HTF reversal.

Reverse and lose the last low around 33.6, and 30k is next.

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Top 10 trading tips:
1. DO NOT FOMO into a trade. Let it come to you. Don’t force it.
2. Find a strategy that works for you and be consistent. Operate like a machine and less like the wind.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, know your target AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. Set your trade parameters up front so you keep your self accountable and remove emotions from the equation. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Don’t enter a trade based on one indicator.
10. Horizontals > Diagonals

Please note:

- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!

28 Jan 2022

Catatan

37.5 is big LTF level to reclaim