Hello Traders,
Bitcoin remains under the White Extended Trend Line (resistance), and now even way further below the 21MA.
For now, it's still a waiting game until Bitcoin pushes up and out of the White Extended Resistance Trend Line and above the 21MA.
Bitcoin could either:
1. Start moving up or sideways towards the 21MA to meet it.
or
2. Continue dipping.
If Bitcoin continues to dip, here are the levels to watch:
$40.3K
$37,402
$35,232
$28.8K
RSI: 29.96 Level Breached
Stoch RSI: Oversold Region
For those who are waiting for when the trend changes to bullish to place a trade will be awaiting for Bitcoin to go above the 21MA and remain there. A confirmation on the lower TF (TimeFrame 4HR) or a retest of the 21MA as it retraces and confirm it as support.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
Happy Friday Traders!
More power to all your trades, my friends!
Ron
Intrepid_Trader
Bitcoin remains under the White Extended Trend Line (resistance), and now even way further below the 21MA.
For now, it's still a waiting game until Bitcoin pushes up and out of the White Extended Resistance Trend Line and above the 21MA.
Bitcoin could either:
1. Start moving up or sideways towards the 21MA to meet it.
or
2. Continue dipping.
If Bitcoin continues to dip, here are the levels to watch:
$40.3K
$37,402
$35,232
$28.8K
RSI: 29.96 Level Breached
Stoch RSI: Oversold Region
For those who are waiting for when the trend changes to bullish to place a trade will be awaiting for Bitcoin to go above the 21MA and remain there. A confirmation on the lower TF (TimeFrame 4HR) or a retest of the 21MA as it retraces and confirm it as support.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
Happy Friday Traders!
More power to all your trades, my friends!
Ron
Intrepid_Trader
