Hey guys!
Today, I'd like to share my two ideas to which price might go for. I'll keep it short and sweet!
1. Breakout: This would mean continuation of the trend, this is resistance but can still totally be broken through and explode higher. The Ichimoku Cloud shows strength pointing upwards, usually when it gets flat it means a retracement is imminet and the trend needs to pause and breathe but we are not seeing that yet. Pay attention to Daily chart to forecast higher timeframe retracements on the cloud.
2. Rejection of Supply Zone. We could see a failed breakout ending up in climax because it's reaching the brodeaning area that BTC has been respecting and bouncing off for the past months. This means it will hit a diagonal resistance of the broadening channel. Keep in mind, we are approaching to a Supply zone too, which means a lot of people have been sitting in the red and are waiting for BTC to get there to break even and get out clean once and for all.
Once we got a nice support confirmed for BTC, I'll suggest right then you can resume spot or futures trading with the alt coins. Meanwhile, wait for Daddy BTC to be in the clear to keep on the bullish continuation team! Remember the trend is your friend! ♥
Peace out,
Kina
Today, I'd like to share my two ideas to which price might go for. I'll keep it short and sweet!
1. Breakout: This would mean continuation of the trend, this is resistance but can still totally be broken through and explode higher. The Ichimoku Cloud shows strength pointing upwards, usually when it gets flat it means a retracement is imminet and the trend needs to pause and breathe but we are not seeing that yet. Pay attention to Daily chart to forecast higher timeframe retracements on the cloud.
2. Rejection of Supply Zone. We could see a failed breakout ending up in climax because it's reaching the brodeaning area that BTC has been respecting and bouncing off for the past months. This means it will hit a diagonal resistance of the broadening channel. Keep in mind, we are approaching to a Supply zone too, which means a lot of people have been sitting in the red and are waiting for BTC to get there to break even and get out clean once and for all.
Once we got a nice support confirmed for BTC, I'll suggest right then you can resume spot or futures trading with the alt coins. Meanwhile, wait for Daddy BTC to be in the clear to keep on the bullish continuation team! Remember the trend is your friend! ♥
Peace out,
Kina