cantestogo
Long

Possible target for short term trading

BITFINEX:BTCUSD   Bitcoin / Dollar
218 2 4
Looking at low timeframes we are in the middle of a descending wedge, that is the retrace of previous high (444 erea). I'm looking for a possible breakout to the upside. There is also an information on OBV indicator, that suggests a bullish divergence. Both a measured move and previous trendlines on the downtrend phase are pointing to the 450-460 area as a possible target.
Good luck for your trading
ChartArt
2 years ago
Since we broke out of your channel. Are you buying back in or are you waiting on the sidelines how this develops?
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cantestogo ChartArt
2 years ago
The breakout is not very interesting at this point in terms of volume. The general idea for traders who bought here is to hold and put their stop loss under the 0,61 fib to go long. Still possible to touch the 0,61 fib line but for a short term target i'm looking to the upside
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