If this channel is respected, price could ascend to $8073, and Bitcoin could end the year on a positive note.
If support from the channel is breached, price could drop to $6.9K to $6.7K to re-test support zone.
The 120 Period EMA is just slightly above the 200 Period EMA (slightly bullish).
The RSI has a bullish divergence.
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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)
If support from the channel is breached, price could drop to $6.9K to $6.7K to re-test support zone.
The 120 Period EMA is just slightly above the 200 Period EMA (slightly bullish).
The RSI has a bullish divergence.
===============================
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)
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Resistance Up Ahead.
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Inverse Head & Shoulders with an RSI Bullish Divergence.
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Bull Flag.
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Target: $7387
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Tight spot for Bitcoin now, time to make a big decision to either break upwards or downwards.
Price is above the 20 Week EMA and 20 Day EMA and these EMA may act as support.
Failure to hold price support at these EMA levels could bring Bitcoin down to the $6K levels.
Failure to hold price support at these EMA levels could bring Bitcoin down to the $6K levels.
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Price is now approaching the 61.8% Golden Fibonacci Level @ $7236. Price might find support at that level.
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Hmmm...
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Bitcoin now poised to come down and re-test support zone.
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A Storm Is Brewing.
Confluences at the target price. The 120 and 200 Day EMAs, the Fibonacci Level @ 38.2%, the down-trending resistance line. (All of these can only be valid if the price finds support in this ascending channel, otherwise, price could re-test support zone.