Short term ranges for BTCUSD

22 thg 4, 2020

Here are my ranges that I am looking at to see a short term increase in price or decrease in price.

I am still overall bearish until the start of 2021 but this will determine if I put more working capital into the trade or not.

To invalidate this bearish sentiment we would have to go above 7308 where I would have my stoplosses kick in and then push above 7466 for me to turn bullish and look for a trade.

So scenarios are:
- Breakout above this pennant --> Add to short position when it stabilizes but only if it is below 7308 as that would be the stoploss
- Breakout below this pennant --> Hold position and add a stoploss for 25% of trade to a new position above stabilising area to take profits if moves back up.

I will not look at scalping as I find it too risky for the overall position.

Maintain or gain.