1 min

Bitcoin – catch the correction!

I am reversal, not trend continuation trader, that's why it's challenging for me to find the entry point.

Hello!

As you know, we have these difficulties with entry point because of missed long at $35500 due to emotions. I am reversal, not trend continuation trader, that’s why it’s challenging for me to find the entry point.

Nevertheless the analysis which I did performed perfectly, but I did not earn any profits since I closed my big profitable long at $44500. I am going to try it again. Yesterday  I told you that the $44100 is going to be the reversal point to the downside because it is the last target for the long trade which I missed, but today I see the Bitcoin strength. I don’t want to tell the fundamental reason of this strength, I think you guessed. I want to tell only one think – the crypto is our future guys!

I suppose now that the price growth is going to continue to my old target $49000. I want to buy it at least at the small discount. On the strong uptrend the corrections usually ends at the 0.38 Fib ($42300 in our case). There is also the MACD bearish divergence on the 1h – weak signal, but the small correction is possible. Moreover we can see the local demand zone just below 0.38 Fib. It is nice to place our stop loss there. I set the risk = 1% of depo.

Good luck!

Trade easy with Smart tools

Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform.

Similar blog posts

Skyrexio x Bybit are hosting a 30-day trading showdown. Top 30 traders take home the prize! How to Participate: 1️⃣ Register for Skyrexio x Bybit trading competition2️⃣ Trade using Skyrexio.com

Skyrexio is a leading non-custodial crypto trading platform and official broker for major exchanges announces the full integration with Crypto.com. With this partnership, Crypto.com users can now access all of

Skyrexio has integrated with Bybit to help users automate trading and simplify strategy execution across exchanges. Bybit users now have access to Alert Bots for automated TradingView alerts or custom

In this article you will learn how to combine Awesome Oscillator and Acceleration/Deceleration indicator in conjunction to have the trading zone for aggressive decisions.
Hello! Our COO Dmitry Efremov visited Token 2049 in Singapore! Here is the overview of key events there!
In this article you will learn how to use Acceleration / Deceleration indicator in your trading.