Scanning the market this morning and noticing that some money is flowing into the altcoins. This could be setting up for some bullish altcoin trading as I mentioned in a post from last week, while this chart is from last week, the same principle applies to this weekend so check the post linked here to understand the trading concept being applied in this post.
FIL has already shown the breakout that I am looking for, but now watching it in the event BTC chops and it comes down to hit the local support as a retest. And the red line shown is just a representation of where I would recommend your tightest stop loss being. Follow your own risk management strategies, but often these setups can dig under the support line so clearing the recent low before the breakout is typically a safe strategy. Next overhead level is shown below and can be used as a guide for taking profit.
Scanning the market this morning and noticing that some money is flowing into the altcoins. This could be setting up for some bullish altcoin trading as I mentioned in a post from last week, while this chart is from last week, the same principle applies to this weekend so check the post linked here to understand the trading concept being applied in this post.
FIL has already shown the breakout that I am looking for, but now watching it in the event BTC chops and it comes down to hit the local support as a retest. And the red line shown is just a representation of where I would recommend your tightest stop loss being. Follow your own risk management strategies, but often these setups can dig under the support line so clearing the recent low before the breakout is typically a safe strategy. Next overhead level is shown below and can be used as a guide for taking profit.