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UnknownUnicorn6061584
Jan 9, 2020 4:27 PM

BTC|USD - Rejected By Descending Channel Resistance Short

Bitcoin / U.S. dollarBitstamp

Description

Greetings. Please leave a Like if you like the idea

In my previous analysis I said that long should be taken only after breakout of 50% fib level and resistance zone and if this won't happen pullback will come to 7,900$.

Let's consider full situation - for the price to grow we has to break 50% Fib level and channel resistance at least and fix above those level. Now we see only a rejection happened. The price now on an important support zone - and if this support zone will be lost level of 6.600$ should be tested again and as more conservative targets you can take 7.600 and 7.250.

Remember - Long only on a breakout of channel resistance!
- Short if current support zone is lost!

Leaving a "like" costs nothing and really helps me out; please consider it! It's the #1 thing I look at when deciding to work on future content.

Peace Out!

Not a Financial Advice
Comments
XHE_FX
noob
ProjectSyndicate
btcusd 8hour update by projectsyndicate.
Faibik
Both Are thinking same

mbc47
I agree
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