$BTC - SHORT pressure building
Quick lesson from $BTC on why the 200 EMA matters so much.
Price sits 1.1% under its 200 EMA while the 34 and 89 EMAs stack overhead, meaning the uptrend hasn't taken hold. The stop sits just 0.3% from entry, so a small move against the idea ends it.
Does this tight 0.3% stop feel too close to you, or about right for this setup?
TRADE PLAN
Entry zone: 80538.28 - 80580.92 (ref 80565.995)
TP1: 80328 (+0.30%)
TP2: 80143 (+0.53%)
TP3: 79959 (+0.75%)
Stop loss: 80790.53 (-0.28%)
⚠️ Personal market insight, not investment advice. DYOR.
Quick lesson from $BTC on why the 200 EMA matters so much.
Price sits 1.1% under its 200 EMA while the 34 and 89 EMAs stack overhead, meaning the uptrend hasn't taken hold. The stop sits just 0.3% from entry, so a small move against the idea ends it.
Does this tight 0.3% stop feel too close to you, or about right for this setup?
TRADE PLAN
Entry zone: 80538.28 - 80580.92 (ref 80565.995)
TP1: 80328 (+0.30%)
TP2: 80143 (+0.53%)
TP3: 79959 (+0.75%)
Stop loss: 80790.53 (-0.28%)
⚠️ Personal market insight, not investment advice. DYOR.