Hey Everyone,
As usual, an over simplified short term buy opportunity on the
BTC
chart.
The Black Line, is a support line rather than a trend line. Its a bear market after all.
I got it from connecting the NOV, FEB & APRIL lows.
The Green Line represents the bottom side of the descending wedge, and the red line....the top side.
An entry on the black line looks like a good area to rest the top of the wedge. I personally will be taking a smaller position there as a day trade.
An entry on the Green line looks like a good position and i will be taking a larger entry there.
Good Luck.
As usual, an over simplified short term buy opportunity on the
BTC
chart. The Black Line, is a support line rather than a trend line. Its a bear market after all.
I got it from connecting the NOV, FEB & APRIL lows.
The Green Line represents the bottom side of the descending wedge, and the red line....the top side.
An entry on the black line looks like a good area to rest the top of the wedge. I personally will be taking a smaller position there as a day trade.
An entry on the Green line looks like a good position and i will be taking a larger entry there.
Good Luck.
Trade active:
BTC broke its falling wedge to the upside, Buy opportunity was successful. Unsure whether it has the strength to test the down trend line. Its certainly has started with excellent momentum.
Trade closed: target reached:
This trade worked out quite well. BTC currently sitting at $9,460. Taking some profits here.