Hope you find value from this post.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
BITCOIN bounced off support at $39,650, broke through Resistance "A" and now above its 12MA.
BITCOIN now heading for the 21MA and resistance at $45,469 - which was previous support on the 17th of Dec. 2021.
What's BITCOIN facing past the 21ma and the resistance at $45,469?
1. Resistance "B"
2. The 50% Fib Fan Level
3. The 50MA
Today's first order of business is to push past $44,342 and close above it.
If BITCOIN retraces from here, we are expected to find support at $42 - $41K.
Further push down will take BITCOIN down back to the 61.8% Fib Fan Level (Green Support) and eventually towards the previous support at $39,650 which is the last support before catastrophe for the Bulls happen.
MACD: Crossed Bullish, confirmed a Bullish Divergence.
Stoch RSI: Headed for the 80 Level, momentum still Bullish.
30 Day Projected Target: 61.8% Fib Level @ $57,788
Always remember to place your Stop Loss.
Price action is KING!
More power to all your trades, my friends!
Ron
Intrepid_Trader
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
BITCOIN bounced off support at $39,650, broke through Resistance "A" and now above its 12MA.
BITCOIN now heading for the 21MA and resistance at $45,469 - which was previous support on the 17th of Dec. 2021.
What's BITCOIN facing past the 21ma and the resistance at $45,469?
1. Resistance "B"
2. The 50% Fib Fan Level
3. The 50MA
Today's first order of business is to push past $44,342 and close above it.
If BITCOIN retraces from here, we are expected to find support at $42 - $41K.
Further push down will take BITCOIN down back to the 61.8% Fib Fan Level (Green Support) and eventually towards the previous support at $39,650 which is the last support before catastrophe for the Bulls happen.
MACD: Crossed Bullish, confirmed a Bullish Divergence.
Stoch RSI: Headed for the 80 Level, momentum still Bullish.
30 Day Projected Target: 61.8% Fib Level @ $57,788
Always remember to place your Stop Loss.
Price action is KING!
More power to all your trades, my friends!
Ron
Intrepid_Trader