Hi Traders,
I'm looking at BTC today on the 4-hour time frame.
We don’t know if the bottom is in yet for this recent capitulation but that’s not my problem to solve.
I only trade what the charts show me. If a setup presents itself and fits into my list of rules and criteria, then I will jump into a position.
I'm noticing a potential head and shoulders pattern.
We have full divergence on the MACD
What I would like to see is the price close above the neck zone impulsively with substantial bullish volume to accompany that move.
I would then look for low bearish volume on a retrace down to the neck zone.
Once the price retraces deep into the neck zone, I would open up a long position
My target would be the 23.5k level
Trade safe out there!
The Vortex Trader
I'm looking at BTC today on the 4-hour time frame.
We don’t know if the bottom is in yet for this recent capitulation but that’s not my problem to solve.
I only trade what the charts show me. If a setup presents itself and fits into my list of rules and criteria, then I will jump into a position.
I'm noticing a potential head and shoulders pattern.
We have full divergence on the MACD
What I would like to see is the price close above the neck zone impulsively with substantial bullish volume to accompany that move.
I would then look for low bearish volume on a retrace down to the neck zone.
Once the price retraces deep into the neck zone, I would open up a long position
My target would be the 23.5k level
Trade safe out there!
The Vortex Trader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.