The trade plan I am moving forward with and am relying on here is based on Bitcoin confirming a breakout swing failure pattern of the range last week.
There are two main strategies at play here and the only thing that really changes is when we are looking for entry on shorts. An ideal entry would be a retest of the range high (blue line on chart) and I would be placing a short on BTC in addition to looking for altcoins that look very weak.
If that range high is not hit, our next confirmation for short entries is if a candle closes below the range low (red line on chart). On this break, I’ll be looking for altcoins that have just broken down from support levels and timing trades that way.
The trade plan I am moving forward with and am relying on here is based on Bitcoin confirming a breakout swing failure pattern of the range last week.
There are two main strategies at play here and the only thing that really changes is when we are looking for entry on shorts. An ideal entry would be a retest of the range high (blue line on chart) and I would be placing a short on BTC in addition to looking for altcoins that look very weak.
If that range high is not hit, our next confirmation for short entries is if a candle closes below the range low (red line on chart). On this break, I’ll be looking for altcoins that have just broken down from support levels and timing trades that way.