Happy Cold Thirsty Thursday, 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.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin has breached market structure at $42,372 (Red Horizontal Ray Line) and currently pushing out of its 12MA.
Bitcoin is now headed for its 21MA and the Red Descending Resistance Trend Line above it.
More than likely, it will continue its bullish move and if it does, the next destination is its 50MA which is coming down to meet with it at around $45,469 to $46,576 @ the 23.6% Fib Level.
Bearish move from here would be a rejection from the 21MA and the Red Descending Resistance Trend Line and could push Bitcoin back down to its 12MA.
The next market structure to be broken is $43,930.
MACD: Bullish Divergence
Stoch RSI: (1WK TF) Oversold Region
Always remember to place your Stop Loss.
Price action is KING!
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
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.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin has breached market structure at $42,372 (Red Horizontal Ray Line) and currently pushing out of its 12MA.
Bitcoin is now headed for its 21MA and the Red Descending Resistance Trend Line above it.
More than likely, it will continue its bullish move and if it does, the next destination is its 50MA which is coming down to meet with it at around $45,469 to $46,576 @ the 23.6% Fib Level.
Bearish move from here would be a rejection from the 21MA and the Red Descending Resistance Trend Line and could push Bitcoin back down to its 12MA.
The next market structure to be broken is $43,930.
MACD: Bullish Divergence
Stoch RSI: (1WK TF) Oversold Region
Always remember to place your Stop Loss.
Price action is KING!
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