btc 15m tf yesterday

you can also see wyckoff playing out nicely

top two circles shows SOS

while the bottom circle is the spring followed by LPS upwards

if you can master wyckoff well, you'll be very profitable as you're trading alongside the composite operators 🥳

not in any trades now,

market isn't stable enough for me

not until i see confirmation

there was some very interesting market movement though,

someone pushed price all the way down, but not low enough to trigger a sell-off by the market

this tells me the bulls are still in charge here

btc 15m tf

you can take note of the price line too

i had charted a price line at 35238 where I labelled "sells lower range"

because if the candle had closed BELOW that line, I would have shorted and so will the market

it's the line that would very likely trigger a sell-off sending btc back down

but it closed JUST above it.

the immediate candle following was the bulls fighting back hard (long top wick) and the bears trying to push it back down below to line to trigger the sell-off

but the bulls were strong enough to hold the line

#analysis

i'd say this is very interesting price movement

why 35238?

35238 is a very strong support that led btc to the 36k rally last week (left side) a green candle close above it sent prices flying up

it was also a very strong resistance that led to btc's sell off when price couldnt close back above it (right side)

#analysis

it's such a strong level whether support or resistance

hence, a close below it would've triggered a sell-off and i would have shorted as well

but it was defended well by the bulls, also reinforcing the point of strong support :-)

with that being said, i'm still bullish on btc as the bulls have defended well

hence, mainly looking for longs

entered btc long cmp

SL - 35220

#trades W

btc managed a close above resistance, i'm expecting a move back upwards with the bulls strength

previous candle showed me strength as well

as shown

trade still good to enter if you're still interested

15m candle came back to close under resistance again, seems like this position will take longer

very nice hammer comeback by the bulls :-)

in the green once again! 🥳

shifting my SL to entry here, taking 25% profits

making it a risk free trade

another W for the books 😊

now some of you might be curious as to why i set my SL to entry so quickly

what if it comes back and hits SL soon after?
then i would only have profited 25% of my position at 20% profits

for me as a scalper, what's important is capital preservation

do you understand the power of a RISK-FREE trade?

UNLIMITED upside, ZERO downside!

if i could offer you such a deal would you take it? of course!

that's how you can remain consistently profitable

#tips

if it does actually come down and hit my SL,

I still manage to profit a bit overall, and I can re-enter my position at an even lower price!

what a deal!!

:-)

if you took the trade with me, congratulations! 🥳