BTC seems to be in an ascending channel on the H1 Timeframe. A previous double top bearish formation at 9400 has caused a sell off to hit the bottom of the channel, which has strongly rejected the sell, thereby validating 9100 as a strong support.
Technical Indicators:
BTC continues to fight in the 9350 range, with selling pressure dying fast as seen in the VOLUMES and MACD.
Stochastics show an upward move towards 80 point, a bullish pattern emerging, despite BTC staying below 9350 --> DIVERGENCE
To watch for:
- A quick BUY opportunity if BTC retests the @ 9230 nearest support level, which is very near the bottom of the ascending channel. Expect a strong rebound towards the top of the channel @ 9650
Feel free to comment and feedback!
Regards,
GolDRoger, a humble beginner trader : )
Technical Indicators:
BTC continues to fight in the 9350 range, with selling pressure dying fast as seen in the VOLUMES and MACD.
Stochastics show an upward move towards 80 point, a bullish pattern emerging, despite BTC staying below 9350 --> DIVERGENCE
To watch for:
- A quick BUY opportunity if BTC retests the @ 9230 nearest support level, which is very near the bottom of the ascending channel. Expect a strong rebound towards the top of the channel @ 9650
Feel free to comment and feedback!
Regards,
GolDRoger, a humble beginner trader : )
Trade closed: target reached:
As shown in the chart (red line),
Profits taken for BUY @ 9230 then CLOSED POSITION @ 9980.14
MASSIVE PROFITS!! Congratulations to those who followed my forecast = )
Profits taken for BUY @ 9230 then CLOSED POSITION @ 9980.14
MASSIVE PROFITS!! Congratulations to those who followed my forecast = )
Comment:
Updated late as I forgotten about this idea entirely lol