Long

BTC break upwards before continuing dump

Updated

This is my idea for a short term scalp. BTC seems like it's going to break upwards out of this pennant. Play a long, looking to close it around 6800 level when it hit long term downtrend diagonal.

Note

The chart has just broken upwards, and we're approaching 6800. I set a take profit limit order. Let's see if my target hits.

Note

6800 target has been hit. Wicked through to 6880. I am watching closely with tight stops. Don't want to call tops, could continue to break up.

Trade closed manually

And finally, the end of my short term thesis. We hit 6800, I made brief long profit, it was rejected from the long term downtrend, and made a drastic move towards long-term support

MrXlVii

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