BTCUSDT short using proprietary multi-timeframe trend detection
BTC has rejected the short term trend (13D EMA) yesterday and again today on the H1 time frame. For the coming hours it will be quite interesting to gauge wether we see a reclaim of the H1 200D EMA or not.
We've had a candle close below it and look to be targeting 65.5k - 64.7k in the short term. Would be a great zone to look for swing longs into new highs in my opinion.
Entry: 66874
SL: 68007
TP: 64736
Short term I'd like to see the H4 close back below 66k for relative confidence that this leg is well underway. Will look to move the SL into BE when that happens.
We've had a candle close below it and look to be targeting 65.5k - 64.7k in the short term. Would be a great zone to look for swing longs into new highs in my opinion.
Entry: 66874
SL: 68007
TP: 64736
Short term I'd like to see the H4 close back below 66k for relative confidence that this leg is well underway. Will look to move the SL into BE when that happens.
บันทึก
H1 looks to be finding support on the 200D EMA and with the US market open we've seen bids come in. It is a key area bulls want to see defended. May get stoped out here. Plan remains the same. If price reclaims the short term trend (13D EMA) on an H1 close I will cut the trade.
บันทึก
I've cut the trade at a loss given the aforementioned decisive reclaim of the short term trend on the H1. Will re-evaluate the price action after the H4 close but most likely will be switching bias back to bullish for the rest of the week given this H1 trend retest is looking successful after all. Onto the next trade!
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