BTC NEEDS to break this level

BTC is still trading underneath resistance. Main point.

No reason to jump the gun and get overly bullish at resistance, that is how you get rekt (especially trading with leverage).

H4 posting Lower High after Lower High and BTC has yet to close past the previous Lower High. Meaning, still in downtrend until broken. #trendisyourfriend...see rule 8 below.

Bitcoin trading in new rising channel that may take us at resistance one more time before finally deciding break up or retest the green box range. Break out of channel would likely send bitcoin to green box at 54k (or lower).
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Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
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, make you know your target (or take profit target and let the rest ride) 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. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.

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!

Komentar:

H1 closed below, but still need to see H4 close to confirm break down IMO. H1 channel still looks true with one fakeout to the upside so you could look for a short with a 57500 stop and play to 55800 at 1st support or all the way to 54k green box.