Aim for the wick - good R/R long

If this is an accumulation, it will not go below the previous low 6100

Enter at 6160

SL at previous low 6100 (considering slippage, 6050)

TP1: 6550
TP2: 7300

R/R is at least 3

Yorum:

Update: Looks like my analysis was pretty myopic.

The entire 6100~6800 range looks like an accumulation trading range. 6150 does not provide the "spring" / final long liquidation / last test of supply. I think there is a high possibility of final drop to below 6k

Yorum:

Possibly go up to 7500 max before dropping to 5900ish.
If we were to get above 6800, I will start looking for weakness when BTC goes above 7.2k