Trade Pair: BTC.USD Time Frame: Daily Predicted Direction: Long ( Descending Trendline Breakout Required )
BTC.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
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Price continues to find equilibrium, i will be digging deeper on the 4hr & 1hr TF to identify which way price will break.
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Although a little later than expected a breakout is now under, there is still no trade opportunity until there is a clear break and retest.
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I will be keeping a close eye at $7,500 given the deceleration / reversal candles & structure just above at $7,800
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Textbook move, i will be breaking down the next setup in the coming days.
5500 is also a 2.618 extension fibo level of the double top's neck height occured at 11k
UnknownUnicorn180388
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@hayatguzel, I agree, strong opportunity available.
junaidurrehman1990
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plz update
XanderCrypto
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I wouldn't trade this one, no break of some absolutely key things.
125 EMA rejection on the 4hour. Market bottom fractal lines up with down currently.
Fakeouts occur all the time on trendline breaks sadly.
TradeClass
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I find TomHalls 'solid brass' attitude encouraging when I read his charts.
If there ANY people new to trading and might want to catch up so they can read and understand TA a little better, I have an EDUCATIONAL section you can read.