Here's a look at a trade I did last night on BTC.
I entered in on the bottom blue line at around $9,764USD while we were having some nice hourly consolidation for BTC. I then look to the 15 minute and 1 hour timeframe to confirm that we maintained out higher lower and higher highers moving foward.
I exited a partial position on this trade at the top blue line $10,776USD. I was willing to hold the rest of my positions until we were to break bearish i.e. getting a lower low on the 5 minute timeframe as our RSI were heavily overbought. This is the blue line just under the top one which I was stopped out off as BTC looked to consolidate.
So far BTC is looking to consolidate on the hourly and we are heading into a equilibrium pattern. I will look for an entry point once RSI cools off on the 4 hour chart and we get confirmation on the 15 minute time frame that the bulls are still in control.
Nice and healthy consolidation on the breakout.
