Hi, This is Edison.
Alright, Just made a quick analysis for BTC/USD in H1 timeframe, please noted that with the shorter timeframe we analyze, the quicker will changes of the market movement.
Let's do a forecast if the price drop now, will it break the uptrend support line?
If yes, will the price continue down? OK.
From the chart we can see that It's an Obvious Downtrend Channel, Swing High & Swing Low and Continue Lower High and Lower Low. So, In this scenario we will aim for SHORT. (Follow the Trend, Always REMEMBER that the Trend is your Friend)
You will see the RR ratio is good for this setup too, It's more than 1:3.
Let's see will the PRICE break below the SUPPORT or not. If It's BREAK, We will know the HIGHER chance for this TRADE.
BUT If the price has no breakdown the Trend Support, The Trend Resistance is Breakout, We will aim for LONG.
Goodluck - Edison Oh
Alright, Just made a quick analysis for BTC/USD in H1 timeframe, please noted that with the shorter timeframe we analyze, the quicker will changes of the market movement.
Let's do a forecast if the price drop now, will it break the uptrend support line?
If yes, will the price continue down? OK.
From the chart we can see that It's an Obvious Downtrend Channel, Swing High & Swing Low and Continue Lower High and Lower Low. So, In this scenario we will aim for SHORT. (Follow the Trend, Always REMEMBER that the Trend is your Friend)
You will see the RR ratio is good for this setup too, It's more than 1:3.
Let's see will the PRICE break below the SUPPORT or not. If It's BREAK, We will know the HIGHER chance for this TRADE.
BUT If the price has no breakdown the Trend Support, The Trend Resistance is Breakout, We will aim for LONG.
Goodluck - Edison Oh