$BTC LONG TRADE IDEA

23 thg 6, 2020

Bitcoin Market Breakdown - June 23rd, 2020

• The two scenarios I have in play from my previous BTC post are still valid, but the latter doesn't seem so likely anymore.
  
  
• Although we've seen two 1st touches of trying to breakout of this downtrend, i'm thinking the price could still go up.
  
  
• If you draw this chart out on a smaller timeframe you can find a bullish pennant & make your decision up or down from there.
  
  
• I'm looking at the 4H, because I like working with more data. Now these next few days or even next few candles are very crucial and will decide if Bitcoin breaks out above $9950 or not.
  
  
• I entered at $9600 with tight SL at $9550 so i'm covered either way if the price dips back down. I lose $50 but et a pretty sweet entry price around $9188
  
  
• 1st TP set at $9950
  

As always please do your own research, I am not a financial advisor.