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
Enter at 6160
SL at previous low 6100 (considering slippage, 6050)
TP1: 6550
TP2: 7300
R/R is at least 3
Comentarios:
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
Comentarios:
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
If we were to get above 6800, I will start looking for weakness when BTC goes above 7.2k