Bitcoin (BTC/XBT) Daily Long&Short Trade Setups 2021/02/05

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Market Overview

Price Action: Bitcoin has continued to rally alongside ETH, though at a slower pace. It dropped after previous resistance @ $38.5K and looks to break out.
Patterns: N/A
Areas of Interest: The area(s) of interest for us are the highs @ $38.7K. Once price reaches one of our areas of interest and gives us a valid entry signal, I will update the trade, so make sure you follow me to get the trade entry signals in real time.

Trade Setups
Below are the potential trade setups that I would be interested in trading. Once price reaches one of these zones, I will monitor closely and post a trade signal if we get a high probability trade setup.

Short Trade Setup #1: False Breakout
1. Price Action: Price breaks above and then falls below the high @ $38.7K, forming a bull trap
2. Trade Entry Confirmations: A breakout candlestick followed by a breakdown

Recent Trades

2021/ 02 /04: We had a winning trade! We entered long @ $36,819.0 SL @ $36,528.0, price reached a high of 37,783.8, giving us a risk reward ratio of 3.3:1, meaning if you risked 1BTC on this trade, you could've made 3.3BTC.
2021/ 01 /31: We had a winning trade! We entered long @ $33654 SL @ $33292, price reached a high of $34220, giving us a risk reward ratio of 1.6:1, meaning if you risked 1BTC on this trade, you could've made 1.6BTC.
2021/ 01 /29: We had a winning trade! We entered short @ $37.2K SL @ $38150, price reached a low of $33500, giving us a risk reward ratio of 3.9:1, meaning if you risked 1BTC on this trade, you could've made 3.9BTC.

About Me

I started trading in 2008, first got introduced to bitcoin in 2009, and have been actively trading cryptocurrencies since 2016.
I have worked on Wall Street trading bonds, stocks, and options.
I have worked at top consulting firms advising Fortune 500 companies and worked on $10Billion+ deals.
I have founded and advised blockchain projects and companies, including in the areas of defi, nft, data ownership, and personal identity.
I have taken hundreds of live trades, each recorded with over 50 data points, all meticulously analyzed, using data analysis and modeling to optimize win probability and risk reward.

Why Follow Me

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DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR.

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cryptotraderog

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Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/02/05

by cryptotraderog

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cryptotraderog

Telegram Community: t.me/joinchat/RbV9ZyWrlQiKOhCw

Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw