Just starting out with TA so I like to keep it as simple as possible, so here is a straightforward resistance and support idea for Bitcoin.
Comment:
Looks like it bounced for now. Heavy resistance around the range of 7800-7900 USD and it is a level to watch. If it breaks that range we go upward fast. I expect it to bounce there and go lower before we go up.
Trade active:
Bought at 7350 USD. Stop-loss at 7700 USD if we reach the 7800 - 7900 USD range.
Trade closed: target reached:
7900 got triggered and I sold. Price broke out of the pattern, but probably nobody expected that green candle.