Potential long set up on BTC.
Waiting to see price action breach downward trend and find support on the fib.
If it does i will enter long position once it breaks previous resistance with a sell target just under the next fib.
Stop loss will be set just under previous resistance which is now support.
There is also the potential for a inverse head and shoulders in this set up.
This trade will be about a 5:1 Risk/Reward.
This is not financial advice, always DYOR before investing.
Waiting to see price action breach downward trend and find support on the fib.
If it does i will enter long position once it breaks previous resistance with a sell target just under the next fib.
Stop loss will be set just under previous resistance which is now support.
There is also the potential for a inverse head and shoulders in this set up.
This trade will be about a 5:1 Risk/Reward.
This is not financial advice, always DYOR before investing.