Bitcoin TA / Scaling position

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Bitcoin TA / Scaling positionBitcoinCRYPTO:BTCUSDJoopooranskiπ•„π•’π•£π•œπ•–π•₯ π•Šπ•₯𝕣𝕦𝕔π•₯𝕦𝕣𝕖 𝔹π•ͺ 𝕁𝕠𝕠𝕑 β€”β€”β€”β€”β€” 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 it’s a wedge or an asymmetrical triangle (doesn’t 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 I’m 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