The author is bullish on BTC, targeting 66k, and plans to add to long positions at the lower end of the range.
$btc longs
Hourly midrange is acting as key pivot currently.
Alright, longs still moving around entry and not performing much upside movement yet.
Below just a quick update on how I continue to manage this trade + thoughts on the market for the coming hours and days.
Further trade management comments
Still just holding, not performing any management since price is still slow.
Because exposure is on the lower side, if we get a revisit of range low and the structure is a nice sweep + reaction without price accepting lower, instead rejecting to go lower, then I am looking to add (+announcement live), which gives next run for midrange a good opportunity to perform a clean risk-off trim from a lower entry.
Otherwise, just going to hold and take profits conservatively at range high with a good reaction since my entry is the aggressive signature entry, not the bottom tick one.
In short: increase exposure/risk some more at range low. Decrease exposure/risk at range high.
Anything beyond local range on the upside, is profits. Anything below, is a loss.
Overall thoughts
Considering overall thoughts, this section remains short because nothing changed: 66k is bias-magnet, we are moving in the daily range and likely move up again.
Locally we are moving in the hourly range and just pivoted off midrange for the time being. A break above will imo result in a strong move and turn this long trade we are building into a favourable play.