CountOnCrypto - Bitcoin Forecast - 14/01/2022
Hello TradingView 2022, I'd just like to share my long idea with you.
Bitcoin retested the daily naked point of control, this poses as an opportunity to open a long position, to correctly manage your risk you should use a stop loss below the invalidation point which is below 40k. This level is a major S/R level which we've managed to stay above following the SFP on the 10th of January.
Secondly, assuming we are in a range between the previous local high and the previous low then we can assume price action will naturally gravitate towards the point of control. This is found at around 47k and is my price target.
We can expect to find some resistance at the marked levels on the chart including the golden ratio of a Fibonacci retracement I drew from the previous range.
Bitcoin retested the daily naked point of control, this poses as an opportunity to open a long position, to correctly manage your risk you should use a stop loss below the invalidation point which is below 40k. This level is a major S/R level which we've managed to stay above following the SFP on the 10th of January.
Secondly, assuming we are in a range between the previous local high and the previous low then we can assume price action will naturally gravitate towards the point of control. This is found at around 47k and is my price target.
We can expect to find some resistance at the marked levels on the chart including the golden ratio of a Fibonacci retracement I drew from the previous range.
Trade active:
Currently in a Long position, the entry point is open again.
Trade closed: stop reached:
Stop reached, trade closed.
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Telegram Profits: t.me/CountOnCryptoProfits
Telegram Reviews & Testimonials: t.me/CountOnCryptoReviews
Telegram Contact: t.me/CountOnCrypto
