BTC in between weekly support / resistance Long

Bitcoin / United States DollarCoinbase

Description

⋅ Oct 12, 2019 8:04 PM

Price bounced off weekly volume support around 7900

Then wicked off the weekly volume resistance above, around 8700

We are now sat on daily resistance around 8280 waiting to see if it holds as support before adding long

Comments

paulflint

⋅ Oct 20, 2019 6:14 AM

7814 was the low so 7850 a pretty good entry.

paulflint

⋅ Oct 12, 2019 11:01 PM

This is if we see a bullish scenario unfold
We are in a descending channel on daily / weekly and I still have shorts from 10400 and 8400
top of the channel from current candle is about 9600

Continuing down inside the channel I have TP for shorts at 7480, 6920, 5880, 5200

paulflint

⋅ Oct 12, 2019 10:58 PM

Hoping to get wick entry 8200-8250, 8050-8100, 7950, 7900, 7850

Point of control for volume profile from the drop to sub 8k on the 4h is around 8180

50SMA around 8250
100SMA around 8200

so I don't really expect a drop lower than the POC

23.6 fib around 8470

resistance 8550-8600

weekly resistance around 8720

38.2 fib and 100EMA around 8940

200EMA 8900

200SMA 9080

Resistance 9440 which is approx value of Daily 50SMA & 100EMA

I will look to take profit in those areas depending on volume and how each level affects price