It’s August 17th 2019 and this is my idea:
The BTC made a bull run from $4K in March 2019 and reached its peak in Jun 2019 at $14K
The question which state btc is now in August and September 2019?
The Weekly chart, RSI showed a bear run while the Monthly chart, RSI already at 93, a sign that showed btc gonna be in consolidation state.
So, I need to find out the support and resistant in daily and weekly chart.
On 17 Aug 2019, the 1W showed the strong support at $8k6 and 1M showed strong support at $7k4. So, my Idea is to step in Short Position when btc price is over 10K and step in Long Position when btc reach 8k6 and 7k4.
At this time, the current btc price is 10k3, I’ll place 2 orders:
1/ Short 1 BTC if BTC price reach 10k580, (SL at 10K7 and TP at 9K2)
2/ Short 1 BTC if there is a 4H candle below 10K2 (SL at 10K3 and TP at 9k2)
Is it worth? Yes!!!