Based on Price movement prior to entering the channel, and movement after breaking from the channel.
The price range in the blue box also happens to be around the 225 day MA.
If we can't hold that, more support is at 8200.
Happy Trading.
-SJ
BTCUSD now in correction mode.
we got a corrective impulse from 5,900 to 11,774.
And we also got ABC correction for that impulse.
Which means the price will go up further.
Expected bull target between 15,000-16,000.
We've got a Head & Shoulders pattern completed (it is cleaner on the H4 but I've charted on daily to show the ABC correction as well).
Our first target will be $8k and second target is $5k. Stops would be above the $17k psychological resistance level.
Now that we've broken the neckline, I would expect a retest of the neckline as previous support and should now...
Hi traders,
Crypto currency.... BTCUSD! Since people are all over in my ear about it, I'll drop my first analysis on this subject.
As we easily all see, BTCUSD had a super good momentum going for it crashing the 10K easily and wick quickly over 11K within the same day. When I look over the last correction this pair, it lasted 4 days and had an even greater...
