Bitcoin (BTC/XBT) Daily Long&Short Trade Setups 2021/03/03

3 มี.ค. 2021

Hi guys! I will be sharing the trades that I take in real time, follow to see how my trades work out!
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Market Overview

• Price Action: Bitcoin is continuing to show strength. After reaching a high of 50K, price took a pause and retraced down to the 200MAs, where it bounced and we are now on our way back up to 50K again. Will need to see if Bitcoin has the strength to break through this round number resistance, in which case it will be on its way to test the All Time Highs @ 58K
• Patterns: N/A
  
• Areas of Interest: The area(s) of interest for me are the highs @ 50K. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time.
  

Trade Setups
Below are the potential trade setups that I would be interested in trading:

Long Trade Setup #1: Breakout and Continuation
1. Price Action: Price breaks above and falls back down to 50K and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming

Short Trade Setup #1: False Breakout
1. Price Action: Price breaks above and then falls below the high @ 50K, forming a bull trap
2. Trade Entry Confirmations: A breakout candlestick followed by a breakdown candlestick, above average volume on both breakout candle and breakdown candle, MACD topping out

My Recent Trades

• 2021/ 03/01: I had a winning trade! I entered long @ $46,288.00, SL @ $45797.19, price reached a high of $49,470.0, giving a risk reward ratio of 6.5:1.
  
• 2021/ 02/28: I had a winning trade! I entered long @ $44,875.0, SL @ $43,800.0, price reached a high of $45,530.6, giving a risk reward ratio of 0.6:1.
  
• 2021/ 02/22: I had a winning trade! I entered long @ $56,850.0, SL @ $56,379.0, price reached a high of $57,274.0, giving a risk reward ratio of 0.7:1.
  

About Me

• I started trading in 2008, first got introduced to bitcoin in 2009, and have been actively trading cryptocurrencies since 2016.
  
• I have worked on Wall Street trading bonds, stocks, and options.
  
• I have taken hundreds of live trades, each recorded with over 50 data points, all meticulously analyzed, using data analysis and modeling to optimize win probability and risk reward.
  

Why Follow Me

• Daily analysis on the latest market movements and price zones for high probability trade setups.
  
• Sharing of live trades that I take.
  
• A great place to help each other, learn from each other, and grow together.
  
• Trading education including a comprehensive cryptocurrency trading eBook, personal advice, and other educational materials
  
• Constantly testing and adding new trading strategies and refining battle-tested ones.
  

DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I will not be responsible for any actions you take based on the analysis and comments that I provide. I am simply sharing what I am doing, and is not meant to be investment or trading advice. What you choose to do with the information that I provide is your own sole responsibility! The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!

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