BTCUSDT on daily support, likely to head to 109k

5月29日

We have the price revisiting the daily support DS1.

This presents a long opportunity for us.

The price is likely to find support in this zone and bounce from here.

The target of this long trade shall be the daily resistance DR1 marked on the chart. This resistance zone DR1 sits around 109k area.

In case the price reaches there, it is likely to experience some pullback there.

We will reevaluate the price action on DR1 once it reaches there and decide about the next steps.

What do you think about BTC price and this trade setup presented? Share it with me in the comments.

5月30日

交易進行

So there it is. The price has hit the bottom of that supoort zone and with that the orders filled completely this time and I am positioned for this long trade.

I expect this zone to hold as support for the price. And this should lead to the price bouncing from here.

It is possible that the price might dip further below this support zone, but it is likely that it will be very brief and quick and not that deep.

The dip might extend upto 103k which is close to our stop loss and we may need to adjust that a bit in case that happens. But lets stick to the current plan.

If the condition changes, we will be agile to adapt our trade accordingly and look for a new setup.

By the way, the idea shared of the pullback from 106k (though it went upto 111k) to 96k-97k is still valid. We may see that before a real breakout to the upside towards 137k and then 153k.