$BTC 4H: Sell the Bounce or Wait for the Breakdown? 🔴
BTC dropped from about 84,800 to the 79,200 low, built a base, and is now pushing up with small green candles at about 80,667. The base is not broken yet, and the closest past pattern on this chart was a slow bounce, so I’m not selling into the base here.
Plan B (preferred): sell the bounce
🟠 Sell limit: 81,800 to 82,200, where the last breakdown started
🔴 Stop loss: above 82,700
🎯 TP1: 81,000
🎯 TP2: 79,800
🎯 TP3: 79,000
Plan C (confirmation): sell the breakdown
🔴 Trigger: a 4H candle closes below 79,200
🔴 Stop loss: above 80,000
🎯 Targets: below the base low
Selling now at 80,667? It’s the weakest option. The risk is about 630 points for 870 to the first target, and price is sitting on support that has held twice.
Invalidation: a 4H close above 82,700 means the bounce is turning into a bigger rally, so cancel the sells and stay out.
This is a counter-trend idea, so keep the size smaller than usual. Risk only what you can afford to lose. This is my analysis, not financial advice.
#BTC #bitcoin #ErmaBrockieAnalysis
BTC dropped from about 84,800 to the 79,200 low, built a base, and is now pushing up with small green candles at about 80,667. The base is not broken yet, and the closest past pattern on this chart was a slow bounce, so I’m not selling into the base here.
Plan B (preferred): sell the bounce
🟠 Sell limit: 81,800 to 82,200, where the last breakdown started
🔴 Stop loss: above 82,700
🎯 TP1: 81,000
🎯 TP2: 79,800
🎯 TP3: 79,000
Plan C (confirmation): sell the breakdown
🔴 Trigger: a 4H candle closes below 79,200
🔴 Stop loss: above 80,000
🎯 Targets: below the base low
Selling now at 80,667? It’s the weakest option. The risk is about 630 points for 870 to the first target, and price is sitting on support that has held twice.
Invalidation: a 4H close above 82,700 means the bounce is turning into a bigger rally, so cancel the sells and stay out.
This is a counter-trend idea, so keep the size smaller than usual. Risk only what you can afford to lose. This is my analysis, not financial advice.
#BTC #bitcoin #ErmaBrockieAnalysis
