📈 Planning a BTC trade? Here's a breakdown of my strategy:
🎣 **Strategy:** Limit Long Spot or Lower Leverage Fishing Swing Attempt
- **Entry:** Targeting around 62,481 to 61,600 (average around 61,800)
- **Stop Loss:** Set at 60,680 (2% risk); planning to adjust based on market reaction
- **Take Profits:** Aiming ideally for 67,000 (POC) and potentially 70,000 based on market response
- **Key Indicators:** Watching for a retest of the Value Area Low (VAL) and Breakout Support (BoS) on the H4 timeframe
- **Technical Insights:** Utilizing Fibonacci retracements (OTE fibs), H4 trend bands, and tracking key levels like the previous week's high (PWH) and the 200 EMA on the H4 chart (61,100) for confirmation.
Ready to execute if the market conditions align, aiming for a continuation retest scenario. Stay tuned for updates as the trade progresses!
