Bitcoin is at the brink of breaking towards the upside or the downside.
There are 2 bearish crossovers on this daily chart and price is well below all EMAs.
Stoch RSI momentum is shifted downwards, although it's at Level 57 and is quite in the middle with lots of room to move either upwards or downwards.
RSI is at Level 35 and has lots of room to go upwards.
To expect a price reversal, green box and lines must hold as support.
2 pale broken while extended lines create an ascending broadening wedge, quite bullish.
We are still in a bull trend overall even though we are bearish on smaller time frames.
Targets:
Upside Breakout Target: $9146
Downside Breakout Target: $6462
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 stopped out at 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)
There are 2 bearish crossovers on this daily chart and price is well below all EMAs.
Stoch RSI momentum is shifted downwards, although it's at Level 57 and is quite in the middle with lots of room to move either upwards or downwards.
RSI is at Level 35 and has lots of room to go upwards.
To expect a price reversal, green box and lines must hold as support.
2 pale broken while extended lines create an ascending broadening wedge, quite bullish.
We are still in a bull trend overall even though we are bearish on smaller time frames.
Targets:
Upside Breakout Target: $9146
Downside Breakout Target: $6462
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 stopped out at 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:
Bullish Tweezers
Comment:
Breakout towards the upside on the 1 Hour chart.
Comment:
Will this bear trend end with a big bang or will the bulls take the stage now?
Check out the Pyramid or Diamond Chart Pattern
Check out the Pyramid or Diamond Chart Pattern
