Quick update on BTCUSD - 22.08.2019

Seems like we failed to brake new highs and we are heading down on the large timeframes (mpnthly).
I would stay out of BTC unless you are shorting.

The reasonable buy in would be around 6K levels.

Lines drawn are monthly (black), weekly (orange), daily (red) & hourly (red) timeframes supports and resistances.

The main picture is stilll bullish, we just need small impulse. Apologizes in advance, the picture is a bit confusing, I know there's too much lines.

Update comes if we brake above trendline (unlikely) or if we reach target 6.400 USD.

***NOT FINANCIAL ADVISE JUST EDUCATIONAL PURPOSES***

Good luck trading everyone,
Kind regards,

BeniGo

Comment:

Reaching the point to buy fellas. my personal stop loss is 3k because eventhough BTC has respected many times the grey line, there has been months that it has closed a bit below it and recover the bullish momentum afterwards.

Good luck and have fun trading ppl.

BeniGo

Comment:

I consider the zone 6000-6500 USD a good buy.

This is not financial advise.

Regards.

Trade closed: target reached:

Hope you all bought at 6400