HELLO EVERYONE
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A PREDICTIVE IDEA ON BITCOIN BASED ON PRICE ACTION.
Looking from the monthly chart bit coin saw an impulsive move with the bulls, just as with every move we are most likely to see a correction of this move, which played out with a rally of the bears toward the 61.8 Fibonacci level seeing a rejection at this level 101 price action.
Where to from here?
Well just as with all price action patterns we are more than likely to see consolidation and consolidation as always comes with various patterns i used a symmetrical triangle on the chart but we can possibly trade in a bull flag, an ascending triangle or descending triangle etc. following the price notion either way from here, the targets are the Fibonacci extensions,
Fibonacci extensions are excellent tools not only on BITCOIN with no historic data but basically any pair or stock but in this case everything about BITCOIN is new and we have no historic data to refer to, we are privileged to be creators of this that for future traders so fib extensions will come into play as we look forward to bullish rallies on the coin.
hopes this assists with your plans....
*follow your entry rules on entries
* significant moves with the bears change the plan.
lets see how it goes.
many stars must align with the plan before executing the trade, kindly follow your rules.
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A PREDICTIVE IDEA ON BITCOIN BASED ON PRICE ACTION.
Looking from the monthly chart bit coin saw an impulsive move with the bulls, just as with every move we are most likely to see a correction of this move, which played out with a rally of the bears toward the 61.8 Fibonacci level seeing a rejection at this level 101 price action.
Where to from here?
Well just as with all price action patterns we are more than likely to see consolidation and consolidation as always comes with various patterns i used a symmetrical triangle on the chart but we can possibly trade in a bull flag, an ascending triangle or descending triangle etc. following the price notion either way from here, the targets are the Fibonacci extensions,
Fibonacci extensions are excellent tools not only on BITCOIN with no historic data but basically any pair or stock but in this case everything about BITCOIN is new and we have no historic data to refer to, we are privileged to be creators of this that for future traders so fib extensions will come into play as we look forward to bullish rallies on the coin.
hopes this assists with your plans....
*follow your entry rules on entries
* significant moves with the bears change the plan.
lets see how it goes.
many stars must align with the plan before executing the trade, kindly follow your rules.
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
