Bitcoin TA / Scaling positionBitcoinCRYPTO:BTCUSDJoopooranskiπππ£πππ₯ ππ₯π£π¦ππ₯π¦π£π πΉπͺ ππ π π‘ βββββ Bitcoin TA / Scaling position I use lower time frames (4hrs) just to enter a trade, but for educational purposes we use it this time for TA Macro β Downtrend Currently β Relief rally: β’ Probably a 3 waves + an extended third wave β’ In the third wave or still in makin the first (time will tell) β’ Not clear if itβs a wedge or an asymmetrical triangle (doesnβt matter), the bottom of the pattern is important (Green line breakout) TWO ways to trade the current move (only short): 1. Blue: breakout of the green line + retest + candle confirmation 2. Purple (Scaling position): Scaling into a position & gradually increasing the size as price moves β’ one way is support / resistance, where we enter at the resistances (in a downtrend) β’ 2nd we can short at the Fib levels (yellow) Downside to scaling position: β’ Market can stay irrational longer than U can stay solvent β’ No guarantee the rally is only a relief rally β’ Margin & liquidation risk β’ Psychological pressure β’ Position size can become too large A predefined risk model is a must: β’ Max position size + loss β’ Invalidation level β’ Sufficient liquidity to survive My strategy: β’ The best case = Golden pocket (yellow) but Iβm gonna enter a scaling position at 0.5% Fib (if price pumps) β’ Second choice = Blue β Breakout + retest (if price dumps) Caveat: Scaling position is High Risk & No one should ever try to outrun the market Stay blessed