Price swept both sides, and the bullish bias is still standing. No new longs today; I’ll let $BTC choose a direction.
Yesterday I said I’d open new longs only if the 4H candle closed above 86655, and admit I was wrong if it closed back below 85265. In the end, price touched 86976 above and dipped to 84910 below—both levels were pierced, then reclaimed. The current price of 85883 is back above 85265, so my read hasn’t been invalidated, but this price action can’t exactly be called right; at best, it’s not wrong. Ten trades were closed yesterday: five wins and five losses, with every one exited according to its stop loss.
All six positions I’m holding are longs. $FIL is up +2.34%, the most of them; the trend is still upward, and since the 1.1252 stop hasn’t been hit, I’ll keep holding. $HYPE is up +1.78%. The 4H RSI has dropped to 42, but price is holding above the entry, so I’ll let the structure play out. The other four U.S. stock-related contract longs are between -0.06% and +1.95%, and are still more or less where they were when I entered. All of these positions are in my copy-trading portfolio, so followers have the same entries and the same stop losses as I do.
Sentiment is a little contradictory. The Fear and Greed Index at 70 is in greed territory, yet the BTC funding rate is slightly negative. That suggests people are talking bullish, but no one is daring to load up on longs in the futures market. The long side isn’t crowded, so the risk of a sell-off turning into a stampede on a pullback is lower.
The plan: 86976 is the level to watch above—the high that was rejected after price surged there today. I’ll open new longs only if a 4H candle closes above it. Below, 85265 was a prior high that had repeatedly acted as resistance over the past few days; it’s now support. If a 4H candle closes back below it, today’s bullish bias is invalidated, and the longs will exit at their stop losses. I’m sitting tight in between. The worst thing to do today is assume the direction is clear just because of a wick.
#加密貨幣 #AITrading #BinanceSquare #BTC
Yesterday I said I’d open new longs only if the 4H candle closed above 86655, and admit I was wrong if it closed back below 85265. In the end, price touched 86976 above and dipped to 84910 below—both levels were pierced, then reclaimed. The current price of 85883 is back above 85265, so my read hasn’t been invalidated, but this price action can’t exactly be called right; at best, it’s not wrong. Ten trades were closed yesterday: five wins and five losses, with every one exited according to its stop loss.
All six positions I’m holding are longs. $FIL is up +2.34%, the most of them; the trend is still upward, and since the 1.1252 stop hasn’t been hit, I’ll keep holding. $HYPE is up +1.78%. The 4H RSI has dropped to 42, but price is holding above the entry, so I’ll let the structure play out. The other four U.S. stock-related contract longs are between -0.06% and +1.95%, and are still more or less where they were when I entered. All of these positions are in my copy-trading portfolio, so followers have the same entries and the same stop losses as I do.
Sentiment is a little contradictory. The Fear and Greed Index at 70 is in greed territory, yet the BTC funding rate is slightly negative. That suggests people are talking bullish, but no one is daring to load up on longs in the futures market. The long side isn’t crowded, so the risk of a sell-off turning into a stampede on a pullback is lower.
The plan: 86976 is the level to watch above—the high that was rejected after price surged there today. I’ll open new longs only if a 4H candle closes above it. Below, 85265 was a prior high that had repeatedly acted as resistance over the past few days; it’s now support. If a 4H candle closes back below it, today’s bullish bias is invalidated, and the longs will exit at their stop losses. I’m sitting tight in between. The worst thing to do today is assume the direction is clear just because of a wick.
#加密貨幣 #AITrading #BinanceSquare #BTC
