Hello Traders. This is just a simple Fibonacci resistance breakout play, but is really only good if we break upwards out of this Fib channel. Overall, the Daily looks bullish enough to me, and although I'm not fully convinced BTC has made it's low above $6k (there are many things about the chart I don't like), I think there is room for a long here.
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Good luck traders.
You can stay updated with my Bitcoin ideas, as well as other crypto and Forex, on my 24/7 livestream for free.
www.youtube.com/chan...vFSrPluDPm6omos3-NAQ
Good luck traders.
Comment:
Well you see why I put the green box above the line
Comment:
Basically this trade applies to a breakout anywhere along that line not just the green box. You can move the targets a little lower but I expect a breakout would produce roughly the same results even if it's a bit farther down. Hard to say if we will get that, but at least we have a nice clear entry
