How to trade a relief bounce without getting trapped chasing green candles. 📚
A relief bounce after five straight weekly losses is the most dangerous market to chase, because the move looks strong while the trend is still down, so my rules tonight are simple and strict. 💡 First, never buy the middle of a 1,700 dollar bounce off the low, wait for a close above the 24 hour high at 74,613 dollars or a pullback to the 200 day average near 73,150 dollars, because both give you a clear line to be wrong against. Second, size small and keep a stop loss on every position, because K33 puts perpetual open interest near 353,000 BTC and a squeeze can run both ways, and the CPI flush proved one print can wipe 725 million dollars of positions in a day. Third, take partial profit at the first target instead of holding for the moon.
Do you buy the bounce here, or wait for the close above 74,613? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #TradingTips
A relief bounce after five straight weekly losses is the most dangerous market to chase, because the move looks strong while the trend is still down, so my rules tonight are simple and strict. 💡 First, never buy the middle of a 1,700 dollar bounce off the low, wait for a close above the 24 hour high at 74,613 dollars or a pullback to the 200 day average near 73,150 dollars, because both give you a clear line to be wrong against. Second, size small and keep a stop loss on every position, because K33 puts perpetual open interest near 353,000 BTC and a squeeze can run both ways, and the CPI flush proved one print can wipe 725 million dollars of positions in a day. Third, take partial profit at the first target instead of holding for the moon.
Do you buy the bounce here, or wait for the close above 74,613? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #TradingTips
