Current thoughts about Bitcoin. I see many people becoming bearish and yes, there are some reason to be cautious. I'll explain in this small thread why I am still leaning towards a bullish bias and new all time highs in the next few weeks.
Let's look at market structures. They give me very valuable information. Short term we are making lower highs and lower lows, so that's why people become bearish. We need to create a new higher high to change that trend. I'll show below why we could start going up from here.
The bigger picture still clearly shows higher highs and higher lows. So all I am currently looking at is forming a higher low somewhere. The grey zone, which currently acts as support, could be the higher low area. If we get a 4h close above $59.867 I am expecting new ATH's
This is exactly the reason why you always have to zoom out first, to see what the macro picture looks like. For me there is no reason to look at much lower prices YET. Still looking for a potential new all time high in the next few weeks.

$BTC $USDT #Crypto
As an extra addition: A daily close below 51.250 invalidates the short term bullish idea. If that happens we'll probably retrace alot lower. Everything above is just fine and would create a higher low.

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More from @CCT_TradingZone

21 May 20
The power of a good Risk Reward Ratio (RRR)

Example: A trader uses 1:3 RRR on all his trades. He loses 7 trades, wins only 3 trades and still manages to become profitable. Want to learn how? Read this thread below!⬇️

(And follow us for more!)
#Trade #education #BTC #crypto Image
When using a RRR of 1:3 it means that your Risk (Stoploss) is 1 and your Reward (target 1) is 3. So your Reward is always 3 times as big as your Risk.

So, for example: When I take a trade with $100 Risk, it means that my Reward is $300.
When your tradesetup has a 5% stoploss (Risk) it means that target 1 (Reward) has to be atleast 15%.

When your tradesetup has a 2% stoploss (Risk) it means that target 1 (Reward) has to be atleast 6%.
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