FXtrades-gp

BITCOIN: up to its PREVIOUS MAXIMUM HIGH LEVEL!

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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🟢Forex Pair:
BITCOIN /USD

Technical Analysis:
Since the 31st of January 2021, the price has been moving following a clear uptrend, after it got a really interesting bullish impulse on the level at about 32k.
The price moved up without any interruption, getting its first rejection on the level at about 38k. (I previously published an idea where I was confident to see the price collapsing down until the level at about 34k, but the bulls moved the price up, failing my first attempt to entry short.)
It is currently trying to reach the main resistance zone at about 42k, an important level already reached during the first week of January 2021.

🔴Conclusion:
The bitcoin is absolutely following a strong bullish impulse, but I'm still confident to see an upcoming trend correction, the level at about 42k could be a great chance to catch a good short position on this trade.
I'll be waiting for the price action around the main resistance zone before planning my short position until the S/R zone at about 38k (matching with the 0.38% of Fibonacci retracement ).

Stay tuned for Updates and Trading Signals!
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

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Comments

Brilliant illustration, cheers man
+1 Reply
FXtrades-gp Investroy
@Investroy, you're welcome, thanks for ur feedback :)
Reply
I agree with your outlook. Thumbsup!
+1 Reply
FXtrades-gp KlejdiCuni
@KlejdiCuni thanks man ! Really really appreciate
Reply
Well done! Thanks
+1 Reply
FXtrades-gp Mahtab_Tradia
@Mahtab_Tradia thank you!
Reply
Welcome come all the best of luck your treading go ahead
+1 Reply
FXtrades-gp Ruben_Ortegfx
@Ruben_Ortegfx I’m so glad of that , thanks for your feedback 🙏🙏
Reply
you have a great sense of work.
+1 Reply
FXtrades-gp kevinfred
@kevinfred I’m glad to hear that ! Many many thanks 🙏
Reply
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