Happy Tueday Traders, Investors & Gamblers
This is an update on the BTCUSD 1D chart and a follow up on my previous posts and tweets about the current trend within the ascending channel which Bitcoin has been forming since June. (See Post Below 👇)
The Key area is of course the one marked in yellow between 23.850$ and 23.400$ a break above or below will result in a re-test of the ascending channel resistance or support and potentially a breakout which would mean that we will see new local highs in case of a breakout to the upside and potentially new macro lows if the range breaks to the downside.
For a break from the range we would need a significant increase in volume which is the key indicator to keep an eye on when Bitcoin gets to the 25.000$ or 20.000$ range.
The targets to the upside are marked by the horizontal lines above (28.500$ - 31.800$) With the upper one being the line in the sand for a trend reversal on the larger TFs. ( See post on weekly chart below 👇)
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys!
Happy Trading ✌🧡📈
This is an update on the BTCUSD 1D chart and a follow up on my previous posts and tweets about the current trend within the ascending channel which Bitcoin has been forming since June. (See Post Below 👇)
The Key area is of course the one marked in yellow between 23.850$ and 23.400$ a break above or below will result in a re-test of the ascending channel resistance or support and potentially a breakout which would mean that we will see new local highs in case of a breakout to the upside and potentially new macro lows if the range breaks to the downside.
For a break from the range we would need a significant increase in volume which is the key indicator to keep an eye on when Bitcoin gets to the 25.000$ or 20.000$ range.
The targets to the upside are marked by the horizontal lines above (28.500$ - 31.800$) With the upper one being the line in the sand for a trend reversal on the larger TFs. ( See post on weekly chart below 👇)
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys!
Happy Trading ✌🧡📈
