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
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