Long on Bitcoin (New Trade Setup)🚨
TL;DR
The analyst outlines an active Bitcoin trading plan centered on a long position initiated at $66.6K, explaining how recent reclaiming of volume-based support levels and higher low formations signal local bullish momentum, while detailing a strategy to hold for $72K resistance or scalp a potential fake-out at $69K.
📊 Active Position Management 2 insights
Long from $66.6K remains open
The trader is successfully holding a Bitcoin long position entered at $66,600 with the stop loss moved to breakeven, while an Ethereum long from the same period was stopped out at entry, resulting in no loss but no gain.
Multi-month shorts still printing
Alongside the new long, the trader continues holding highly profitable short positions initiated at $96K and $106K from November/December, demonstrating a strategy of maintaining swing trades in both directions based on market structure.
📈 Technical Analysis & Key Levels 3 insights
Higher low structure confirmed
Bitcoin shifted from a bearish lower-lows pattern to a bullish structure by holding $66K support and forming a second higher low around $67K, indicating local market structure reversal.
Critical volume reclaim
Price reclaimed the Volume Weighted Average Price (VWAP) and Point of Control (POC) around $67K, suggesting absorption of selling pressure and clearing the path toward the $68.8K-$69K resistance cluster.
$72K-$73K as decisive resistance
The primary target for the current long is the $72K-$73K zone, which represents significant resistance where the market will likely decide between a bullish breakout or a bearish fake-out.
⚡ Trade Execution Strategy 3 insights
Avoid chasing breakouts
The analyst emphasizes never longing breakout moves at resistance, citing the risk of fake-outs that liquidate late entrants; instead, pre-position at support (like $66K) to ride moves higher without FOMO.
$69K scalp setup
If Bitcoin fakes out above $69K and fails to hold, a potential short scalp targeting $67K (the NPOC level) could capture liquidity before a potential third higher low forms for continuation higher.
Patience over frequency
The trader waited six days for the $66K entry, executing zero trades while waiting for the specific setup, highlighting the discipline of waiting for predefined levels rather than forcing action.
Bottom Line
Pre-position Bitcoin longs at key support levels like $66K to capture upside toward $72K without chasing breakouts, while remaining prepared to short potential fake-outs at $69K or $73K if they fail to sustain momentum.
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