BITCOIN
In light of Bitcoin’s bullish price action on the 4 hour timeframe (above), today, I decided to enter a long TON trade, as it has been consistently moving in correlation with BTC’s price movements (unlike MATIC):
TONUSDT
Learning Points
- This is a lower probability trade because the lagging span is not in the open. Instead, it still has to break through the Kumo Cloud if the price action is to continue moving bullish. That said, the price action has broken through and closed outside of the Kumo Cloud on the 4 hour. And it has been moving steadily along a diagonal trendline.
- Important to not look at the charts too often, as seems to be triggering me to experience the fear of losing, causing me to second guess my decision to enter the trade.
Let’s see how this plays out!
Next Action
- If the lagging span breaks through the Kumo Cloud, then seek to aggressively add additional capital to your position.
- Continue to monitor BTC and TON every 4 hours or so.
