BTC Reversal trade guide

Execution of a counter trend trade and reversal requires patience. You do not want to be the first buying in the panic. The below guide can bring great profits during the next day or two. This is a high risk trade which can be very lucrative for those ready to capitalize on a short term scalp. This method is how i have increased my portfolio substantially during this bear market. Below are the keys to executing a successful but risky counter trend trade.

1.capitulation- the action of surrendering or ceasing to resist an opponent or demand. Bulls give up and stop resisting. A free fall basically of pure panic
2. Volume - a sudden spike of huge green volume. 2x minimum of moving average.
3. Vix indicator can help
4. Out of daily bolinger band range
5. Reversal Candle like a morning star, failed low, or bullish engulfment
6. Strong previous resistance now turned support.

If you trade meets these criteria then you can enter a risky reversal trade.

Potential zones and scenarios
6k- weak - double bottom
5k - preferred - Previous strong resistance and now support
4k - Historical trendline
3k - previous resistance now support.

I recommend keeping the 15m - 1hr, 4hr and daily charts open.

If i am not on tradingview at the time to give the signal the rules above will let you know when to buy.

Best of luck