BITCOIN: My Unique Trading Setup (Bounty)

Hello everybody,

Today I'll do something a little more different than the usual content: I will show & explain you in detail my own trading setup. Furthermore, I'm also showing you what I'm looking for, for my next trade. Read on!

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MY BITCOIN SETUP EXPLAINED

What you are seeing below is my unique EMA + MA setup. I marked with arrows and text the moment Bitcoin bounced at certain EMAs or MAs on different time frames, sometimes including Fibonacci retracement. The number before the slash represents the EMA/MA and what's after the slash is the time frame. (E.g: top 377/1h means the candle wick reached the 377 EMA on the 1h time frame).

I'm using this technique along with the old RSI, MACD and sometimes Ichimoku and OBV indicators to enter any trades. And Fibonacci, of course. That's all, nothing too complicated.

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My last two Setups

My first entry point (A) was at the 100 EMA weekly at about 7760$ (Binance) and I sold right below (B) - 55 EMA on the 4h chart at about 8170$. I didn't expect a further rally. For this trade I used 20x leverage and had a stop loss at 7690$, below our current lowest low.

My second entry was unfortunately unsuccessful at (C) - 100 EMA weekly again, buy order with 25x leverage at 7777$, but the price only reached 7810$ on Binance. So unlucky. Same stop loss as above.

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Further Entries

Currently I'm waiting to see if we will go higher or if we will retrace. I made the charts below, assuming that we reached our local high and are retracing to the 0.618 Fib level. From there I used a Fibonacci extension tool to find the 1-1 extension (8500$) and 1.618 extension (8850$).

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I will adjust the Fibonacci retracement and Fibonacci extension tools, based on what will happen in the following days. But in general, I will be looking for entering a short position at one of the given levels, based on what the momentum of the market is and if there are bearish divergences forming.

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BOUNTY:

What do you think about my setup? Only honest opinions accepted. No hard feelings!

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If you believe that I'm a fool for sharing my strategies with you... well, you might be right. But I'd say there's enough room for everybody in this market!
Yours,

Thanks for reading and safe trading!✌

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