Bitcoin Long Idea
Overview:
I am considering a long position on Bitcoin after the accumulation and manipulation phases, as the market is now in the distribution phase. Although it might seem a bit late to enter the trade, I am willing to risk 3% of my capital on this futures contract, despite generally not favoring cryptocurrencies.
Entry Point:
My entry point is based on an imbalance caused by a local structural break, marked on the chart. The entry level is set at $68,227.12.
Stop Loss:
The stop loss is placed at $67,061.26 to manage risk effectively.
Target:
The target is $70,668.37, which aligns with an order block and the previous week's high. This level is a strong magnet for price action.
Risk Management:
I anticipate that we might hit several stop losses before finding the ideal entry. However, with strict adherence to money management principles, this should not be a significant issue. For example, one successful trade can offset five unsuccessful ones, showcasing the power of proper money management.
Summary:
Entry Point: $68,227.12
Stop Loss: $67,061.26
Target: $70,668.37
By maintaining disciplined money management, the potential losses from a few stop-outs will be negligible compared to the gains from a successful trade. This approach ensures that risk is kept in check while allowing for profitable opportunities.
I am considering a long position on Bitcoin after the accumulation and manipulation phases, as the market is now in the distribution phase. Although it might seem a bit late to enter the trade, I am willing to risk 3% of my capital on this futures contract, despite generally not favoring cryptocurrencies.
Entry Point:
My entry point is based on an imbalance caused by a local structural break, marked on the chart. The entry level is set at $68,227.12.
Stop Loss:
The stop loss is placed at $67,061.26 to manage risk effectively.
Target:
The target is $70,668.37, which aligns with an order block and the previous week's high. This level is a strong magnet for price action.
Risk Management:
I anticipate that we might hit several stop losses before finding the ideal entry. However, with strict adherence to money management principles, this should not be a significant issue. For example, one successful trade can offset five unsuccessful ones, showcasing the power of proper money management.
Summary:
Entry Point: $68,227.12
Stop Loss: $67,061.26
Target: $70,668.37
By maintaining disciplined money management, the potential losses from a few stop-outs will be negligible compared to the gains from a successful trade. This approach ensures that risk is kept in check while allowing for profitable opportunities.
交易結束：目標達成
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。