After watching BTCUSD all day sharpen its triangle pattern, it began consolidation and has tightly knitted its price action in the last few hours hovering right around $6600 with outbreaks as high as $6800. The Resistance level above the triangle breakout around $6750 has now been retested. If after one more cycle we see a Price Action above that resistance level and it holds for a 15min period to give us some green on the charts above the resistance level, I expect the resistance level to become the new support and gain enough traction to reach at minimum $7000 and possible highs of $7500. If BTCUSD falls below $6300, expect the next support level to fall to previous strong supports of about $5700.
Recognizing that BTCUSD hasn't edged near $6400 for a 6 hour window, recommended Stop Loss at $6400 to and Sell at $7350 to $7500 depending on your particular penchant for risk. Good luck and happy trading!
Recognizing that BTCUSD hasn't edged near $6400 for a 6 hour window, recommended Stop Loss at $6400 to and Sell at $7350 to $7500 depending on your particular penchant for risk. Good luck and happy trading!