Let's look at the 1H timeframe because it will allow us to understand better the further market movement within the next few days.
The price broke the local downtrend line. It confirmed a trend reversal if we use TA simple tools. The market gave us a good bullish signal.
We got a price reversal from 7100.00 support zone. Before it, the market tried to break this support, but sellers failed. It is another bullish signal.
All these signals allow us to say that the market can move upward. At least the market has such a plan.
Maybe, it is the right time to think about short term trading? We have bullish signals which can be used for opening long positions with stop orders below 7100.00 and the swing low. The main profit target should be at the main downtrend line.
probably a really stupid question... lol but i am new to trading so i will ask any way....what do you mean when you say TA simple tools...? does the TA stand for trendline analysis..??
oh and by the way i really love your work...i'm picking up some great knowledge, appreciate you taking the time to actually share this with us.... full respect to you...
CClifton1
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@f50_, technical analysis
digyourheelsin
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@CClifton1, ahh I see...quite obvious now you've said it..so much terminology to learn...it's fun though.
Appreciate you taking the time to explain.
mojtabaivi
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Nice chart... I think we will have something like this:
DLavrov
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@mojtabaivi, thanks for your comment and sharing your idea!
oh92
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Couldn’t agree more. BTC still holding above major support zone
oh and by the way i really love your work...i'm picking up some great knowledge, appreciate you taking the time to actually share this with us.... full respect to you...