Hi guys, this is a price action analysis.
After a big drawdown where the Bitcoin found Buyers in the April Demand Zone 2019, what we are expecting now is to see a pull back in the Sellers Area (Supply Zone) as indicated in the chart.
A DBD mean Drop Base Drop. This type of movement happen when price is in a bearish momentum and then we find a base (which is price collecting orders) before then continuing the bearish momentum. Anyway this area represent a Strong Seller Zone.
Tap a LIKE if you think is a useful idea and comment below!
In this post, I not recommend buying or selling so please do your own research, and follow your trading plan with a properly Money Management.
Thank you for reading.
After a big drawdown where the Bitcoin found Buyers in the April Demand Zone 2019, what we are expecting now is to see a pull back in the Sellers Area (Supply Zone) as indicated in the chart.
A DBD mean Drop Base Drop. This type of movement happen when price is in a bearish momentum and then we find a base (which is price collecting orders) before then continuing the bearish momentum. Anyway this area represent a Strong Seller Zone.
Tap a LIKE if you think is a useful idea and comment below!
In this post, I not recommend buying or selling so please do your own research, and follow your trading plan with a properly Money Management.
Thank you for reading.
Comment:
Started to move again.
Comment:
Hey guys, partial profits were taken. Remember to update the stop loss in you advance.
Trade closed manually:
Guys I preferred close this trade with great profit taken. Price is moving slow, I dont like the closing of the Daily candle. Stay tuned for the next analysis, thank you.
Trade closed: target reached
