BTC - 5 hours to close candle above $6,900 (long Term support)
Dear all,
Short update on BTC, the rising wedge finally completed its retracement to the $6,700 area.
Now we have 2 options:
1 - BTC candle 12h candle closes within 5hrs above $6,900 to preserve long term support
In that case BTC will have performed a bullish triple bottom
2 - BTC candle closes below and it will visit lower supports highlighted on the chart
This scenario will be a bearish one since we won't be close to a bull market
Word of advice, always set stop loss, know when to take profit and let the correction clear technical indicators as well as allowing new buyers to enter the market.
Of course this forecast is not a financial advice, study, exercise yourself, put into question your reasoning. Well, strive to be a better trader tomorrow than we are today.
All the Best from the Crypto Space
Alteroc
AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
Short update on BTC, the rising wedge finally completed its retracement to the $6,700 area.
Now we have 2 options:
1 - BTC candle 12h candle closes within 5hrs above $6,900 to preserve long term support
In that case BTC will have performed a bullish triple bottom
2 - BTC candle closes below and it will visit lower supports highlighted on the chart
This scenario will be a bearish one since we won't be close to a bull market
Word of advice, always set stop loss, know when to take profit and let the correction clear technical indicators as well as allowing new buyers to enter the market.
Of course this forecast is not a financial advice, study, exercise yourself, put into question your reasoning. Well, strive to be a better trader tomorrow than we are today.
All the Best from the Crypto Space
Alteroc
AI Trader assistant, includes Bitmex (15% discount) --> app.aitrader.ai/referral/ap3m9
twitter.com/alteroc_trading
Comment:
$100 left to climb back.
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Comment:
1h timeframe
Comment:
Well BTC dropped like a brick and was stop at last support before the next relevant support around $5,500.
This low is also the same as February and compared to this previous days we had a bit of a reaction from buyers.
Now BTC needs to quickly move up back to $6,900 or the probability for more down side will be likely to happen. Good thing too, fear sentiment is growing which is often a sign we are close to bottom.
All the best from the Crypto Space.
Alteroc
This low is also the same as February and compared to this previous days we had a bit of a reaction from buyers.
Now BTC needs to quickly move up back to $6,900 or the probability for more down side will be likely to happen. Good thing too, fear sentiment is growing which is often a sign we are close to bottom.
All the best from the Crypto Space.
Alteroc
