$BTC 4-hour level breakout EMA moving average cluster, pullback near 106300 for long

Allen's Trading Plan ｜ June 16

1. BTC stopped falling at the 4-hour Fibonacci 0.618 level (as mentioned in the previous article, no further explanation) and made a bullish candlestick this Monday morning. Therefore, unless there is a major negative event, there will not be a significant drop.

2. The long entry point is near 106300, pulling back to the 4-hour EMA moving average cluster for a long position. The most likely time to get an opportunity is around the opening of the U.S. stock market when establishing a consolidation low. If there is no opportunity at that time, I will enter half a position near 106000 to add to the position, with the stop loss at the same location.

3. The current ATR when I wrote this article is 966 points, and the stop loss for this trade is set at 1.5 times the ATR, which is about 1500 points, directly losing below 105000.

4. I cannot confirm whether the current rise can directly break new highs; I vaguely feel that the consolidation time is not enough, perhaps indicating a trend of consolidating upwards. This trade may be a short-term position, but specific operations should be based on market movements.

5. Currently, from the 1-hour level perspective, the BTC market is in fact clearer, showing a significant 4 small-level consolidation and pullback for accumulation. Therefore, waiting for the market to pull back to support for a long position is the most prudent approach, with the same trading method as the 4-hour level, entering long positions between 106000-106300, with the same stop loss.

6. This is the entire plan for today. If the market exceeds expectations, and the position gets stopped out, our next long entry point will be around 100000. It is difficult to reach this level in a short time, so this is Plan B. As I said, if there is a plan in advance, the mind will not go blank when the market occurs. I accept anything that happens.