Bitcoin Micro-Trend Change: Trading Plan 1/10

24 Mar 2021

Hello everyone, this is an update of my previous Bitcoin ideas (linked below). While trading the cryptocurrency market, we mostly rely on simple approaches based on volume & trend. In this idea, we can see the Bitcoin price in a mirco trend-change - initiated by the breakout mid-march. We are looking for two long scenarios during this retracement.
Everything else is explained on the chart.

Cheers,
Ares

24 Mar 2021

Not

We were previously looking at the price moving in a Symmetrical Triangle with even chances for a breakout. The price finally took another hit and printed a lower low

24 Mar 2021

Not

The buyers were exhausted at the current all-time high. The retracement is always shaping differently - based on the strength of the sellers and buyers (observe the volume in this case)

24 Mar 2021

Not

This is an idea from late January. Trade the retracement by increasing your position size instead of going short

24 Mar 2021

İşlem aktif

Scenario 1