Bitcoin approaches Big resistance 32k in view

Hello guys,

As we can see price trading around 161% extension zone of the last swing high of June 2019. This level worth holding firm and look into for potential trend reversal as we are approaching both Month and yearly end.

RSI is approaching 90 which is completely overbought. I suspect potential correction to follow starting from next year after a test on 30-32k zone.

Kindly go through the chart and leave us your comments with your likes and also follow us for more trading updates.

Thank you.


Note:
It will be good to always understand risk involve in trading. Always trade with stop Loss in place.

Set up an entry/exit strategy for every trade, with good risk/reward ratio.

Trade active:

Price tested the first part of the resistance around 29k

Trade active:

Still waiting for possible 30k test

Trade closed: target reached:

30k immediate target achieved. This is massive, its time to begin to move stop loss in profit.

Trade active:

Price is at the resistance level and a close of candle above 32,000$ in the next 3 days will invalidated this plan, but any close of price below 32k after the close of this current 5days candle will be difficult for the BULL.

Remember this is not shorting idea, but rather we are waiting for major reversal to pull such trigger.

Trade active:

We are in waiting mode, let see how the 5day candle close, what we are having right now its getting to be scary.

Trade closed manually:

Correction idea failed.