However, we suggested that patient traders would have waited for a much better entry, and those who followed that recommendation got a better deal as BTC dropped near $68,000 at some point just a few hours later.
In this case, an entry at $69,000 would offer a 2.9x risk-reward ratio, with a TP set at $77,000.
We got a second buy signal today, right before BTC exploded. As we have mentioned previously, these are “decisional” candles that feature a specific pattern and above-average trading volumes.
They tend to identify institutional and whale participation when the price moves above or below certain key levels. In this case, it appears that whales are behind this trend line bounce, which makes this a “high-conviction” trade.