Very basic BTC analysis.
We broke trend upward recently and were currently retesting this strong support range.
Graph speaks for itself, but i left some annotations in there (;
GOOD LUCK EVERYONE!
We broke trend upward recently and were currently retesting this strong support range.
Graph speaks for itself, but i left some annotations in there (;
GOOD LUCK EVERYONE!
Comment:
I also want to mention the opposite scenario.
Price could push back up to test support and break through to the upside.
this would spell a VERY strong push upwards, and id be looking for long entries in that support zone.
Price could push back up to test support and break through to the upside.
this would spell a VERY strong push upwards, and id be looking for long entries in that support zone.
Ride the waves
Weve also invalidated the trend in this same move down.
A look at the 15min chart shows what looks to be a nice dip down, followed by a PERFECT retest of the ascending triangle.
I personally feel that the retest price is a great place for a SHORT entry! this falls in the 19.8-20k range. (hope you got in!)
I dont have a TP in mind as of now. But i believe we could drop as far as 16-17k if bear momentum keeps up. otherwise we DO have some weaker support levels that could hold us off.
Please trade carefully! Limit leverage, or avoid it entirely. Set tight SL's, and move it down into profit when it feels comfortable.
Be safe, and good luck!