Recently we saw Bitcoin breakout - ideally we wanted the breakout to happen after the bounce on 30k but it appeared earlier. Now our job is to get in on the continuation of the bullish breakout.
We have structure and 50fib acting as confluence for the bounce at around the 40k. As long as price stays above that level, the bullish setup will be valid.
Trade Idea:
- Watch for price to retrace back to the structure level indicated
- Once bullish price action appears, enter with stops below the bounce
- Targets: 46k, 52k, 69k, actively manage the rest
See the higher timeframe chart below:
We have structure and 50fib acting as confluence for the bounce at around the 40k. As long as price stays above that level, the bullish setup will be valid.
Trade Idea:
- Watch for price to retrace back to the structure level indicated
- Once bullish price action appears, enter with stops below the bounce
- Targets: 46k, 52k, 69k, actively manage the rest
See the higher timeframe chart below:
