$BTC My Last Operation in $BTC: Looking for the Key Break

Body of the Post:

Hello to the entire Binance Square community! I wanted to share with you one of my most recent trades in Bitcoin ($BTC) and the reasoning behind it.

A few days ago, I identified that Bitcoin was consolidating in a fairly narrow range after a significant rise. I noticed that the price was forming a sort of ascending triangle on the 4-hour chart, with a clear resistance around $70,000. My strategy was simple: wait for a confirmed break above that level.

I decided to open a long position (buy) once the 4-hour candle closed decisively above $70,000, with notable buying volume. I placed my stop-loss just below the breakout point to manage risk, and my first take-profit target was set at $72,500, based on previous resistance levels and the extension of the triangle pattern. The trade was executed successfully, reaching the target in less than 24 hours.

This trade reaffirmed for me the importance of patience and waiting for confirmations in price patterns. Avoiding "FOMO" (fear of missing out) and sticking to a predefined plan is crucial, especially in volatile markets like cryptocurrencies. It's always good to have a clear stop-loss and profit target before entering any trade. I hope my experience is helpful to you!