Having studied the history of stable uptrends for BTC on the daily timeframe in this cycle, we decided to start accumulating a long position. Historically, buying near potential break levels of uptrends has been a good bullish idea. Even a very good one.
The only thing that can spoil it is that the asset is currently in distribution on ETH and altcoins. Plus, we are still concerned about the potential high marks on the weekly timeframe (two out of three possible). Therefore, we maintain the probability of placing a stop at breakeven during the implementation of the idea. Or exit the position early.
The price has transitioned into a stable uptrend on the 15-minute timeframe, along with low marks on the hourly, 2- and 3-hour timeframes - for us, this is a local trigger to act.
On the hourly timeframe, for example, there is an additional fourth low mark confirming a break of the structure to the upside. The nearest target pool is also gathered. On the 2- and 3-hour timeframes, there is also a perspective of candle reversal into an ascending structure. Let's see what comes of this. We will be ready for a quick exit if the price falls back into the downtrend on the 15-minute timeframe.
The situation with our experimental #futures_trade right now:
- #Binance: long with 30 leverage from the level of $115,591.30, potential liquidation level $112,245.03.
- Exchange #1: long with 30 leverage from the level of $115,595.00, potential liquidation level $112,319.90.
- Exchange #2: long with 125 leverage and additional liquidity from the level of $115,615.00, potential liquidation level $112,418.10.
The confirmation of the validity of the long idea for us will be a transition into a stable uptrend on the 30-minute timeframe. We will increase our position no earlier than the price returns to a stable uptrend on the 3-hour timeframe.
A cause for concern will be a return to a stable downtrend on the 15-minute timeframe. We will focus on the circumstances.
