[BTC] Daily Up Trend

BTC is on daily up trend, with 3 trend lines I can see:
1. The most important trend line (black) starting from 2019/12/18.
2. Second trend line (blue) connecting 1/3 to 1/26.
3. Recent trend line (green) BTC is holding on.

Here's how I see this play out:
1. If green line holds, we can see another pump.
2. If green line breaks, retest blue line.
> 2-1. Blue line holds, we start another pump.
> 2-2. Blue line breaks, retest black line.
3. If black line breaks, daily up trend is over. Weekly consolidation is comes next, and we looking support on weekly chart.

Today (2/3) BTC is very close to the green line, we should see break out (either up or down) very soon.

Overall, the trend favors bull. I tried short couple times recently, didn't work out.
I am gonna trade with the up trend here after, until we loss the daily up trend.
I think the most important thing here is position sizing.
And I think the daily up trend makes it quite risky to have zero long position, just the opposite of having zero cash position on the down trend.

Yorum:

Load my long position @ daily EMA12 (9,123).
My another order is waiting @ daily EMA26.
But if EMA26 is effectively broken, I am out, looking for more pull back and watching if 8.2K - 8K holds.

İşlem elle kapatılmış:

Got some nice run from 9,123 to 9,860 (8%).
Selling half my long position here, expecting some consolidation.
Waiting for reload @ 4H EMA26, and 1D EMA12.

Yorum:

Prepare to reload (long position) on 1D EMA12 @ 9,620 and sell the bounce (on 1H time frame).
For daily time frame, I need to see more consolidation.