But will The Fat Lady continue singing?
Happy Frozen Friday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade. This is only trading opinion.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
=============================
Bitcoin broke out to the upside piercing through its 21MA and the Red Resistance Extended Trend Line (resistance since Nov. 10, 2021)
So, what's happening next?
Currently, the previous support at $39,650 has apparently become a level of resistance, as of this writing.
Keep reading.
This chart is a 1 Day Chart, until this trading is open it's still anybody's game, although the Bulls have shown their horns and are now goring their way through every resistance that's on their path.
First order of business today is for the Green Day Candle to close above the 21MA.
What to watch out for?
The 50 Day MA (Green Moving Average) is descending and will meet up with Bitcoin and when it does this could be the moment the price could start retracing. We'll cross that bridge (talk about that topic) when we get there.
Price pushing back down... watch out for a support by the 21MA or the previous Red Resistance Trend Line (could act as support).
Bitcoin reverting below the 21MA and the Red Resistance Trend Line is a sign of real weakness by the bulls.
Price action is KING!
Always remember to place your Stop Loss.
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.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Happy Frozen Friday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade. This is only trading opinion.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
=============================
Bitcoin broke out to the upside piercing through its 21MA and the Red Resistance Extended Trend Line (resistance since Nov. 10, 2021)
So, what's happening next?
Currently, the previous support at $39,650 has apparently become a level of resistance, as of this writing.
Keep reading.
This chart is a 1 Day Chart, until this trading is open it's still anybody's game, although the Bulls have shown their horns and are now goring their way through every resistance that's on their path.
First order of business today is for the Green Day Candle to close above the 21MA.
What to watch out for?
The 50 Day MA (Green Moving Average) is descending and will meet up with Bitcoin and when it does this could be the moment the price could start retracing. We'll cross that bridge (talk about that topic) when we get there.
Price pushing back down... watch out for a support by the 21MA or the previous Red Resistance Trend Line (could act as support).
Bitcoin reverting below the 21MA and the Red Resistance Trend Line is a sign of real weakness by the bulls.
Price action is KING!
Always remember to place your Stop Loss.
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.
More power to all your trades, my friends!
Ron
Intrepid_Trader
