The longer time frame - the ocean tide
The medium term time frame - the ocean wave
Managing a trade - the shorter term ripple
Here is the scope for this trade, this is using the 2 hour chart
The market has been going through periods of rallies that have not been able to reach newer highs for almost all types of tops. The tops that I am describing are global tops, regional tops, local tops, and in some cases even micro tops.
A "top" in a trend describes a moment when price does not exceed any prior high points. In this case a top would have to be put in to context of its time series. A top on a very high time frame would be very relevant.
In what we are observing about Bitcoin, we see each the topping points as an opportunity to sell short, and then eventually buy to cover and BUY BITCOIN on a probable cool down in price action
If the market favors this type of set up, and we overall have a feeling of risk-off in the morning, it would enable Bitcoin to trade between 26961 or roughly 27000
The amount of risk in the trade is 375
The amount of reward is 1900
The risk to reward ratio is nearly 5 to 1.
This is not to be taken as financial advice or any directive to take a trade, but merely a chance to observe how effective a triple screen can be at placing a profitable set up
Thanks for reading
