$BTC Just executed a swing trade on $BTC/USDT after spotting a bullish reversal pattern on the daily chart. Here's my breakdown:
**Entry:**
- Identified a double bottom near $60K support
- RSI showed oversold conditions (below 30)
- Entered at $61,200 after confirmation with a 4-hour candle close above the 20 EMA
**Exit Plan:**
- First target at $64,800 (previous resistance)
- Second target at $67,500 (1.618 Fib extension)
- Stop-loss set at $58,900 (below recent swing low)
**Risk Management:**
- Position size: 3% of portfolio
- Reward-to-risk ratio: 3:1
This #SwingTradingStrategy allows me to capture multi-day trends while avoiding intraday noise. Monitoring the trade closely as BTC tests key levels.