Bitcoin Ascending Triangle Resistance Re-Tested - What Next?
After re-testing the previous $7350 resistance, price has formed higher low at $7170.
Subsequently an ascending extended support line has been laid out which completes the bottom support zone of the ascending triangle.
Bitcoin is now poised to re-test the support of the ascending triangle.
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Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
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Ron (The Intrepid Trader)
Subsequently an ascending extended support line has been laid out which completes the bottom support zone of the ascending triangle.
Bitcoin is now poised to re-test the support of the ascending triangle.
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Comment:
Support Re-Test Complete. Next, break out from this Ascending Triangle. Upside breakout bias.
Comment:
Resistance keeping price down.
Bearish Divergence on RSI
Bearish Divergence on RSI
Comment:
Heads for the 61.8% Fib Level
Comment:
61.8% Target Reached
Comment:
Descending Triangle
Comment:
Downwards Breakout. Could be headed for $7K, Blue Support Zone.
Comment:
Price may be headed for the Blue Support Zone to re-test $6985-$6930
Comment:
Top of Blue Rectangle Support Zone Reached.
Comment:
Price has reached the bottom level of the Blue Support Rectangle at $6930 and bottomed at $6914. Price is now pulling back to the $7K. If this Blue Support fails, it’s down to $6775.
Comment:
Support Re-Test Complete.
Comment:
Resistance is keeping price down, if price breaks upwards price will be headed for the 61.8% Fibonacci.
Continuous downward price movement will re-test the support.
Breaking support may mean dropping further to the 120W EMA.
RSI is showing that Bulls are losing strength.
Continuous downward price movement will re-test the support.
Breaking support may mean dropping further to the 120W EMA.
RSI is showing that Bulls are losing strength.
Comment:
Similar Fractals On 1Hour Chart
Comment:
Could Price Re-Test $6775 And Pump Up To The 21W EMA?
Comment:
Bitcoin Finally Found Support At The 120W EMA... What Now?
