reasons:

the support level has held very well thus far with immediate rejection 3 times

im looking for a bounce scalp here if it comes back to touch the support level again

if it does not come back down to wick support level, it's fine - no trade then.

the area of green box is what i would refer to as the DEMAND zone

from previous price data, this is the area where btc always bounces off from be it uptrend or downtrend

#learn

as you can see, price came in the demand zone and bounced off before (there were more occasions but you can take a look yourself) (this was a downtrend market)

however, the right most attempt failed as whales manipulated the prices sending it down all the way with a huge long red candle (not organic price action)

what do i mean by organic? just means unnatural price action aka manipulation

#learn

not triggered yet, let's just wait and see :)

price moved up without us - but that's okay!

it's much much better to miss a move than entering a trade because you "feel" like it'll go up (that's basically gambling and you wont be consistently profitable)

#tips

almost 50 subs thanks all! 🙏🏼🙏🏼

once again in trading it's incredibly important to be patient +++

when i first started i entered impulsively with horrible entries making me lose a lot of money

i'm sure some of yall can relate to that as well 😭😭

to add on to this point,

if you see a candle CLOSE BELOW demand zone, there's a high possibility that the market will continue downwards because the demand zone has failed as supply overcame demand

so that's where SLs usually are :-)

#learn

while waiting for movement or trades, try identifying demand zones as practice! 👍🏼

btc couldnt close a HH, it'll probably be coming down soon,

now we have to identify if btc can close a HL

if a LL is printed, then btc will be sideways moving or going back down

unexpected

taking a 0.5% margin long here

my stop market order is still there

#trades BE

taking a 1% cmp long on CHR as well

#trades BE

closed chr at break even no movement at all

bearish divergence as market structure unable to continue here

becareful!

i’ll be averaging down to close break even here, won’t be holding my long position for too long

divergence recap ^

price made a HH on btc, but RSI made a LH

aka trend reversal

here’s the pic for better understanding!

at the two exact points that btc made a HH, RSI made a LH

becareful trading ++

will check back w the market later when things are hopefully clearer

no trades no open orders now