Long

[BITCOIN] Buy Limit - 06/10/22 - London Session

I was a little reluctant to trade crypto's since the market has been so out of whack lately but I analyzed Bitcoin and found some confluences that are extremely favorable for taking some trades. First off we have an overall trendline on the higher timeframes, which indicate bullish momentum. Following the trendline, from the last low to the most recent high, the market has given a consistent 61.8 retracement with support being formed. From the most recent high we have also formed lower highs where we have another trendline formation. Going a little bit more indepth into the lower timeframes, we notice that the market has formed a symmetrical triangle formation indicating a bullish movement. We then have a 78.6 retracement and a 31.8 retracement and a trendline break all going on simultaneusly. My entry was around the 38.2 but I also placed another entry at the 50 incase the market chose to retrace further. Then the stop loss was placed outside of the zone, for a strong trade idea.

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