Fundamentals always trump technical analysis. Tether dump, wanna be BTC baller fomo and Fidelity adoption among other adoption ( Bitcoin satellites to name one of my favorites! :) ) are driving the price up! Now that being said everything has a top, at least a temporary one anyways. Top/bottom hunting is one of the most difficult things to master in technical analysis but we have to try none the less ;P.
Macro :
That being said the top is likely in or will be any in the coming moments
Mirco:
Entry : 7908
Stack Risk : 2%
R/R : 3:1
Summary :
Just hit the top of channel looking to retrace
Looking to retrace back to the safe fib .5
We will likely trace back further but after getting stopped out yesterday I'm airing on the side of caution and looking for "safe" profit
Macro :
That being said the top is likely in or will be any in the coming moments
Mirco:
Entry : 7908
Stack Risk : 2%
R/R : 3:1
Summary :
Just hit the top of channel looking to retrace
Looking to retrace back to the safe fib .5
We will likely trace back further but after getting stopped out yesterday I'm airing on the side of caution and looking for "safe" profit
Trade closed: stop reached
Just barely stopped out. The TA is good, too tight of a stop placed. Might look for one more entry today, won't force though.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.