Bitcoin Breakout Day Trade

Nice Day trade on the Bitcoin 30 minute chart here.

This 4500 level looks critical. WE had a nice run from 4340 to 4460, a healthy consolidation flag and now we are attacking that 4500 level.

If we can breakout above 4480, then I think we will see a continuation to the upside.

Long above 4480 for an attack on the 4500 level
Target 1: .618 Fib retracement at 4540
Target 2: Measured move at 4580
Stop: Under consolidation at 4420, then on break of 4500 level, raise stop to break even at 4480

!! PM me with any trading questions !!

MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.

ความคิดเห็น:

First target reached. Great success! Holding a little for the second target.