CVC/BTC Short-Term Price Analysis!

Price is just breaking out of a potential bottom structure. Possible reverse in trend.

I opened the trade on the breakout retrace, which was just above 1800 sats (light red box). Try to get in there if you can.

My first target is around 2100 (the green box), where I'll be selling at least 50% of my position. Will have to re-evaluate the position at that point.

The stop-loss is the box in darker-red.

Thank you all, and good luck!

Kommentera:

For the stop-loss, you could definitely try a 5% trailing stop. I am currently reading up more on these. For this analysis I stuck with what I am most comfortable with.

Kommentera:

Entering a support zone. Hopefully we see a quick rally, but as long as our black trend line isn't violated, I am not too worried

Kommentera:

Sell volume is not big, either. This trade stays active

Kommentera:

The trade is developing nicely, although we did not reach the first target.

Let's watch BTC closely the next few days to make sure our trade setup does not change too significantly.

Remember, bitcoin volatility often means the alts lose value temporarily

Kommentera:

We've seen steady, consistent growth thus far. I believe we will break resistance at some point, I will continue to hold my bag. I'm feeling mid 2ks, but I'll have to update with analysis before making a decision on a sell target

Kommentera:

Target reached