Hope you all had a wonderful Xmas & New Year break. 2019 was an amazing year and I hope all of you had made good profits together with me.
Without further ado, let's talk about the current price actions:
Above chart is the same chart that I posted back on the 5th Dec 2019. The range still holding nicely as expected. In trading, if you are expecting a range, you trade the first several touches of the range boundaries. As price is heading towards the end of the range, you simply wait for the price to breakout either side and show you the direction. Can you see what most people are doing right now on TradingView? Trying to guess the direction of the breakout. That's not trading.
What does this imply for the current BTC price? The weekly resistance is at $7900 and if the weekly candle can close above it, it's definitely a buy.
The bounce happened around $6900 hours ago is nothing out of ordinaries. If you have been following me for some time, you would have known structure in confluence with 0.618 fib retracement has a high winning probability. Unfortunately, even after I proved it to people so many times, many traders still think it's full of crap - "trading shouldn't be that easy", they said.
Trading is not that difficult if you know what to look for. It's not a magic or complex algorithm. Keep it simple and you will succeed.
Don't forget to leave a like if you appreciate what I do and want to make money from my posts again :)
Taiwan Bear
Without further ado, let's talk about the current price actions:
Above chart is the same chart that I posted back on the 5th Dec 2019. The range still holding nicely as expected. In trading, if you are expecting a range, you trade the first several touches of the range boundaries. As price is heading towards the end of the range, you simply wait for the price to breakout either side and show you the direction. Can you see what most people are doing right now on TradingView? Trying to guess the direction of the breakout. That's not trading.
What does this imply for the current BTC price? The weekly resistance is at $7900 and if the weekly candle can close above it, it's definitely a buy.
The bounce happened around $6900 hours ago is nothing out of ordinaries. If you have been following me for some time, you would have known structure in confluence with 0.618 fib retracement has a high winning probability. Unfortunately, even after I proved it to people so many times, many traders still think it's full of crap - "trading shouldn't be that easy", they said.
Trading is not that difficult if you know what to look for. It's not a magic or complex algorithm. Keep it simple and you will succeed.
Don't forget to leave a like if you appreciate what I do and want to make money from my posts again :)
Taiwan Bear
