BTC-USDT LONG TRADE 4H
Approach 1: Buy support
1. I would like to see the price go towards the first area of interest zone.
2. If this price hits the first level I will be looking at is the 32.000 level. I might want to scale out depending on the current price action.
3. Second TP will be at the 34.000 level, here I would consider completing the trade or...
Top down analysis:
W: Looking at the weekly we see VET touched a strong support zone and rebounded nicely. Yet we are still in a long-term downtrend on VET so enter trade with caution. (red lines)
D: Zooming in on the daily we can see VET had some consolidation near the support zone and broke out of the channel. When drawing a FIB retracement on the previous leg...
Analysis:
1. Weekly indicates a strong support/resistance area for VET right now
2. Zooming in on the daily the support/resistance zone is also clearly visible with a consolidating price action the last few days
3. Zooming in on the 4H and using the Bollinger Bands we can see a squeeze and a narrower Bollinger band. (an indication that price will become more...
