Happy Thirsty Thursday, Traders!
Hope you find value from this post.
If you did, please 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 now printed an ascending triangle (at the end of this downtrend, ascending triangles are reversal chart patterns), and possibly continue ranging sideways as bulls accumulate (fueling this Bitcoin rocket).
What to watch out for?
Watch the breakout from the Blue Horizontal Resistance bar and a confirmation (possibly a retest of the bar as support). Will watch one on the 4 Hr chart soon.
Bitcoin must stay above $42,415 up until a weekly close (level of significant market structure on weekly chart - refer to my previous post entitled "Bitcoin - BATTLING ITS 8W MA!",) and must stay above the 50D MA for a strong confirmation of a bullish trend. Another higher low will also be a stronger confirmation of a trend favoring the bulls.
MACD has an unfulfilled Bullish Divergence.
Stoch RSI (1Wk TF): Huge upside potential!
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.
Cheers! and More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, please 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 now printed an ascending triangle (at the end of this downtrend, ascending triangles are reversal chart patterns), and possibly continue ranging sideways as bulls accumulate (fueling this Bitcoin rocket).
What to watch out for?
Watch the breakout from the Blue Horizontal Resistance bar and a confirmation (possibly a retest of the bar as support). Will watch one on the 4 Hr chart soon.
Bitcoin must stay above $42,415 up until a weekly close (level of significant market structure on weekly chart - refer to my previous post entitled "Bitcoin - BATTLING ITS 8W MA!",) and must stay above the 50D MA for a strong confirmation of a bullish trend. Another higher low will also be a stronger confirmation of a trend favoring the bulls.
MACD has an unfulfilled Bullish Divergence.
Stoch RSI (1Wk TF): Huge upside potential!
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.
Cheers! and More power to all your trades, my friends!
Ron
Intrepid_Trader
