Get ready for the weekend everyone!
BTC seems to be following an inverse H&S pattern - which essentially means we are moving back up to test $7200 in the next day or two (depending on weekend trading).
Volume is low right now as we continue to trace the right side. Be cautious of taking any short positions during this time - weekend trading sometimes accelerates things when volume picks up and stops and limits trigger.
We are still very much in a buy zone - currently at $6500 - anyone who has followed my charts would have bought in at $7050 mark I predicted (when we were at $7800) as well in the 6000's where I had buy positions down to 6200. Always take multiple positions - good money management techniques are just as important as being able to read the market.
BTC is still very much a buy right this second. $7200 is the resistance level we will test again.. at current prices we are looking at a potential $700 per coin gain (which is not a bad gain).
We can confidently say that we are going to test $7200 within the next few days - what happens from there is anyone's guess at this point. If you are holding BTC - keep holding to $7200 where we can re-evaluate. Who knows - we might blow through that barrier tonight... Time for the weekenders!
** I am a full-time trader sharing my analysis. Please LIKE or FOLLOW if you find my charts useful**
BTC seems to be following an inverse H&S pattern - which essentially means we are moving back up to test $7200 in the next day or two (depending on weekend trading).
Volume is low right now as we continue to trace the right side. Be cautious of taking any short positions during this time - weekend trading sometimes accelerates things when volume picks up and stops and limits trigger.
We are still very much in a buy zone - currently at $6500 - anyone who has followed my charts would have bought in at $7050 mark I predicted (when we were at $7800) as well in the 6000's where I had buy positions down to 6200. Always take multiple positions - good money management techniques are just as important as being able to read the market.
BTC is still very much a buy right this second. $7200 is the resistance level we will test again.. at current prices we are looking at a potential $700 per coin gain (which is not a bad gain).
We can confidently say that we are going to test $7200 within the next few days - what happens from there is anyone's guess at this point. If you are holding BTC - keep holding to $7200 where we can re-evaluate. Who knows - we might blow through that barrier tonight... Time for the weekenders!
** I am a full-time trader sharing my analysis. Please LIKE or FOLLOW if you find my charts useful**