quick play on bitcoin today, please give a thumbs up if you like the chart....
we are looking to get a long position/buy into bitcoin for a quick scalp on sunday
targeting the 0.882fib level and 21 EMA (blue line)on the daily chart:
there is a very good chance we will hit this target of $4630 and possible short from that area back down to 4k is very probable in next 24-48hrs to retest lows before weekday markets open
if there is momentum and timing is right we could see a move beyond 5k but currently thats not so likely as what has been stated above regarding the rebound off resistances due to the Fib and EMA
Stop loss at $4080
Good trades y'all
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Trade aktif
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4hr view, bullish again here and ready to swing up
Trading ditutup: stop tercapai
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price fell under averages and we got stopped out for minimal loss
Is there any reason to select $4080 as stop loss. I feel it as a too close value. Yesterday ( Saturday 1st dec ), there was a time BTC dropped to 39xx range.
majorlee
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@rkothwala, hi and thanks for your question/comment
this is a scalp quick play and not risking too much here, either we go up and profit or stop out at very small loss
if you want to have a bigger S/L then maybe you can risk more with a $3970 instead but we are still in play for now, just depends when you bought in i guess
rkothwala
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@majorlee, I accept that taking small loss is good in these markets. It seems we are still in downtrend and going to test 200 MA weekly level. If that will the huge support level, I'll buy more.