CryptoBully

Still holding that long on $BTC despite some TP triggers around 73.5k, only took off 20% because if this breakout is real then can't expect many pullbacks
If we can hold this VaH now even after US close, will look for compound longs, have trailed stops till ~70.3k

Bitcoin got us like:
Been a while since a video update, do we do one today?

$XRP doing share buybacks
Unironically think this is one of the altcoins that will do really well for a mean reversion trade since it never dies and supply control is a huge mystery
Will be looking for some spot trades if we can flip the EMA pair on the daily. Target $1.83 etc

My base case for $BTC
Path and exact levels not that important in the long run apart from the immediate S/R levels
Key points:
1. Downside retests have not worked for a while
2. $85k is the logical lower high from our previous value generated before collapsing further on extensive selling but bear market bottoms take months, not weeks
3. A break above our current value area near $72k easily grants easy passage towards the $85k region regardless so that's your long trade
4. Break below value means low 50s at the minimum so there's two short trades (another deviation at VaH now down to 65k or so

Found support at the VWAP bands near 65.5k as expected
Think $BTC has more time in this range and the local quick long opp is done as we did not had spot follow through with that local SFP

$BTC has been very simple to trade recently
For now:
1. Rejected from our Weekly Level + std dev band
2. Sitting at VaH + VWAP band
3. Break below 70 here warrants a move towards $66k near VaLs and the Monthly Open
Trade the range until it breaks. I'll update the trade on TG

If there is one reversal setup I look to trade near market bottoms, it has to be this. Simple price action that provides good RR
Detailed breakdown + stop placement🧵:

1) Understanding the overall market
It is important to be inlined with how the market is doing generally. If we are in a trending environment it is much better to accumulate on dips and hold for longer then it is to look for scalps.

2) Waiting for trade to come to you
Typically in ranges, when price trades into one extreme, you look to fade it and target the next end of the range. Your invalidation in this case is price finding acceptance outside of the range on higher time frames such has H4 of Daily.

3) Entry confirmation
Waiting for your confirmation (can be orderflow, price action, footprints or anything you use), can interfere with the RR and can also make you miss a couple trades, so you have to backtest this according to your system and whether you should start scaling in when prices hits your POI (point of interest) or wait for some confluence