GoOd Day Fellow Traders,
BTC is working itself out currently, indicators show weaker signs across the board. Volume isn't strong enough to push the bears out of their position confirmed by our RSI. A solid test of our period trendline happened yesterday, mark by close positioning of the 100 MA in yellow. Our $54.000/ $55.000 K support area seems to be breaking on our daily outlook. Minor and Major support levels are indicated on the right side, watch for price action. MACD follows the trend of the previously mentioned arguments. Conclusion, watch your position closely. Weekly still shows positive signs for now, bud will have to be monitored at the end of this week.
Goodluck and have fun
BTC is working itself out currently, indicators show weaker signs across the board. Volume isn't strong enough to push the bears out of their position confirmed by our RSI. A solid test of our period trendline happened yesterday, mark by close positioning of the 100 MA in yellow. Our $54.000/ $55.000 K support area seems to be breaking on our daily outlook. Minor and Major support levels are indicated on the right side, watch for price action. MACD follows the trend of the previously mentioned arguments. Conclusion, watch your position closely. Weekly still shows positive signs for now, bud will have to be monitored at the end of this week.
Goodluck and have fun
Comment:
The first Target box is reached, watch for either bounce of trend line. The probability of a deeper corrections is for sure on the table as well
Comment:
Comment:
Just some extra info about pullback ranges in the current BTC cycle
Trade closed manually:
Target almost reached, trade closed. I only noticed recently that the trading idea had a Long instead of short Tag. Needless to say, the chart was for a short position.
We reached these levels a little sooner than expected overall
We reached these levels a little sooner than expected overall
Comment:
I closed my shorts this morning, but it did actually hit target box three quick, a lot quicker than expected. With the most insane candle in BTC and crypto, i have seen in 5 years time.