Instrument: BTCUSDT
Time Frame: 15M
Exchange: Bitget
Trading Type: Day Trading
Today's Trading Idea: BTCUSDT Long Setup
Key Setup:
Resistance Level: Watch the 96,085 red line. It’s a key level the price needs to break.
50 EMA: Ensure both price and the 50 EMA break above 96,085. This confirms bullish momentum.
Trendline: A descending trendline also needs to be broken, reinforcing the breakout.
Trade Plan:
Entry: Trigger a long position when both price and the 50 EMA break above 96,085.
Stop-Loss: Initial stop-loss is around 93,616, as shown in the chart. Adjust it as needed once the trade develops.
Take-Profit: Target at 99,057 remains solid and offers a good risk-reward ratio.
Why This Works:
A breakout above the resistance and 50 EMA signals a potential trend reversal or strong continuation. Combining price action, EMA, and the trendline ensures solid confirmation.
Final Notes:
Manage risk carefully, risking only 1-2% of your capital per trade.
Keep an eye on price action post-breakout to adjust the stop-loss and lock in profits.
Stay disciplined and stick to the plan!