Yesterday was back to the drawing board after getting stopped out of my BTC:USD long. It didn’t take me long to find another position, however it was not into BTC (take a look at the c&h on ETH combined with potential TK crossover).
This morning we find ourselves at another crucial area for the Bitcoin price. We were met with resistance from the 50 day SMA but were able to finally support above $9,000. We are coming off a dragonfly doji and it looks like we are going to re explore the previous shadow.
If we can hold above $9,000 for the next 12-24 hours then we should be primed for a $10,000 retest. If we do dip below the low of the prior candle ($9,002) then I expect us to create a new low and head down to $8,400.
We have been trading within a triangle for the past week. I am considering BTC in a no trade zone until that triangle breaks one way or the other. Until then I will be focusing on the alts, and sharing that TA on Twitter (same sn).
Happy trading and remember that following is free!
This morning we find ourselves at another crucial area for the Bitcoin price. We were met with resistance from the 50 day SMA but were able to finally support above $9,000. We are coming off a dragonfly doji and it looks like we are going to re explore the previous shadow.
If we can hold above $9,000 for the next 12-24 hours then we should be primed for a $10,000 retest. If we do dip below the low of the prior candle ($9,002) then I expect us to create a new low and head down to $8,400.
We have been trading within a triangle for the past week. I am considering BTC in a no trade zone until that triangle breaks one way or the other. Until then I will be focusing on the alts, and sharing that TA on Twitter (same sn).
Happy trading and remember that following is free!
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/