Bitbloxx
Long

BITCOIN - Living on the Edge

BINANCE:BTCUSDT   Bitcoin / TetherUS
BINANCE:BTCUSDT finds itself on the edge of a narrowing channel dating back to June 2019, and we say its almost time!

We say Accumulate, you may ask why?

- Going by the book, such patterns yield great returns. Looking at BTC's recent past, narrowing price action often leads to major upsides
- Downside volume is at a minimal - Good sign
- With a medium to long term view, $6300 - $6400 makes a great range, followed by $5800 - $5900. We recommend buying into the Market with a combined closing based stop-loss below $5600. Potential bounce can lead us towards $7800 and $8800 in a few days.

We'll be updating this idea frequently.
Dec 23
Comment: So far, so good. We look forward to the price action around 100SMA.
Jan 06
Comment: The narrowing channel is working wonders as seen in early Asian trading hours today.

If you missed out on the rally, target $7,640-$7,750 for entry, targetting $8,900 - $9,100 range, with a stop under $7,500
Jan 15
Comment: Post breakout Price action and volume looks positive. We do expect some resistance around $9,400 - $9,500.
Feel free to get in touch with us:
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Ritoku Trading System by Bitbloxx (Discord): https://bit.ly/2yNFxpX

Happy Trading!
Team Bitbloxx
The bounce line worked like a charm. Let’s see what’s next
+1 Reply
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