Technical analysis by FPIPS about Symbol BTC on 8/4/2023

BTCUSD is in hourly consolidation. Entry point is either Break of S2 for Sell Stop with S1 for Stop loss or Break of R2 for Buy stop with R1 for stop lossCorrection : R1 and R3 have been mistakenly written other way around. R1 is first resistance below R2 and R3 should be above R2. Trading Plan: Either Break of R2 will trigger Buy Stop with STOP LOSS placed just below R1 with TP1 at R:R=1 and TP2 @ R:R=2. Or Break of S2 will trigger Sell Stop with STOP LOSS placed just below R1 with TP1 at R:R=1 and TP2 @ R:R=2 Risk is 2% of capital