NoFomoCharts

BTC/USD (BITCOIN): Potential Breakout Play

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC /USD ( Bitcoin /USD) has been in a daily uptrend, making a series of higher-highs and higher-lows in price.

A potential breakout play is forming, and the price could rise to $10,000 and $10,500 and $11,000 psychological levels (large volume is needed).

Beware of the fakeout pullback down to support first at $9500 to $9000 psychological levels.

Support levels: $9500, $9000, $8500.

Resistance levels: $10000, $10500, $11000.


Comment: 06/11/2020: $BTC and $SPY correlation still in play.
Comment: $BTC: Higher-Low/Support Levels currently being tested.
Trade closed: stop reached: Resistances holding for BTC.
Short-term downtrend in progress.
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Posts are not financial advice.

Comments

Nice idea, I was thinking something similar.
What do you think?

Reply
NoFomoCharts Crypt1cLyfe
@Crypt1cLyfe, Nice idea as well. Definitely going to be an interesting month for BTC price action.
Reply
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