Everyone, I’ve identified $BTC as the spot to open a large long position.
Take profit: 80403.40
Stop loss: 79202.00 👇
You may be wondering the obvious question: why go long here?
Because there’s not much room left to fall.
The latest 15-minute candle closed at 79776.40. The 20-day range is 79178.60 to 84875.20,
with the current price sitting at just the 10.5th percentile—basically crouched right on the floor.
Down 5.59% over the past 7 days. It’s been falling for seven days.
Most of the selling that needed to happen has probably happened.
Honestly, I’ve been waiting for this level for most of the day. I’m willing to accept that the risk/reward isn’t great.
Like a spring compressed all the way down, someone has to step in if it falls any further.
The money hasn’t left the market; coins are changing hands at lower levels. BTC is the deepest pool of liquidity in the whole market, so I’m not worried about a wick sweeping me out.
If it breaks below the 79178.60 area, that previous rally will have been fully retraced.
There’s plenty of disagreement between bulls and bears here, and I’m willing to take a shot.
Take profit is set at 80403.40, +0.79% from the current price, based on the smaller of the 12-hour countertrend extreme and the average daily volatility.
Stop loss is set at 79202.00, -0.72% from the current price, with a 0.5% buffer beyond the 6-hour extreme so a wick won’t take me out.
Average daily volatility is 2.56%. Both the take profit and stop loss are within that range—this is a hard-and-fast rule in my system.
The risk/reward ratio for this trade works out to 1.09.
Not great, but getting the entry right matters more than the risk/reward.
What do you think of these levels? Let’s discuss in the comments.
$PARTI $FOGO
#比特币 #PARTI #Cryptocurrency
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.
Take profit: 80403.40
Stop loss: 79202.00 👇
You may be wondering the obvious question: why go long here?
Because there’s not much room left to fall.
The latest 15-minute candle closed at 79776.40. The 20-day range is 79178.60 to 84875.20,
with the current price sitting at just the 10.5th percentile—basically crouched right on the floor.
Down 5.59% over the past 7 days. It’s been falling for seven days.
Most of the selling that needed to happen has probably happened.
Honestly, I’ve been waiting for this level for most of the day. I’m willing to accept that the risk/reward isn’t great.
Like a spring compressed all the way down, someone has to step in if it falls any further.
The money hasn’t left the market; coins are changing hands at lower levels. BTC is the deepest pool of liquidity in the whole market, so I’m not worried about a wick sweeping me out.
If it breaks below the 79178.60 area, that previous rally will have been fully retraced.
There’s plenty of disagreement between bulls and bears here, and I’m willing to take a shot.
Take profit is set at 80403.40, +0.79% from the current price, based on the smaller of the 12-hour countertrend extreme and the average daily volatility.
Stop loss is set at 79202.00, -0.72% from the current price, with a 0.5% buffer beyond the 6-hour extreme so a wick won’t take me out.
Average daily volatility is 2.56%. Both the take profit and stop loss are within that range—this is a hard-and-fast rule in my system.
The risk/reward ratio for this trade works out to 1.09.
Not great, but getting the entry right matters more than the risk/reward.
What do you think of these levels? Let’s discuss in the comments.
$PARTI $FOGO
#比特币 #PARTI #Cryptocurrency
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.
