Bitcoin has finally hit the support level making it the 3rd hit at that same support level which makes it a very strong level for either buyers to buy or for sellers to sell if it breaks down.
Your job now is to apply your patience and wait for the right signal the to tell where its going instead of you trying to tell the market where it should go.
if its going down we need to see a close on the daily below the support level, then look for a pullback on the lower Time frame with a confirmation of the short, it can be a Bearish Candlestick Formation, or it can be a break of a counter Trend Line, what ever your entry strategy is make sure that the Volume is in your favor when entering a trade.
now if Bitcoin is to go bullish you must also wait for your confirmation and a increase in volume in your direction.
let me know if you learned something or tell me what als can I do for you to help you understand better.
Your job now is to apply your patience and wait for the right signal the to tell where its going instead of you trying to tell the market where it should go.
if its going down we need to see a close on the daily below the support level, then look for a pullback on the lower Time frame with a confirmation of the short, it can be a Bearish Candlestick Formation, or it can be a break of a counter Trend Line, what ever your entry strategy is make sure that the Volume is in your favor when entering a trade.
now if Bitcoin is to go bullish you must also wait for your confirmation and a increase in volume in your direction.
let me know if you learned something or tell me what als can I do for you to help you understand better.
Trade closed: target reached:
As you can See, if you look back or if you check out my other post about BTCUSD you will see that we had on the 1 hour chart a bullish Engulghing Candle with a increase in volume, and since then Bitcoin start to go up, now I believe we are getting closer approaching the resistance level.
from there will have to watch and see if Bitcoin breaks above or falls from there
from there will have to watch and see if Bitcoin breaks above or falls from there
