Here's update for BTC/USD:
The price managed to bounce from support zone, 0.786 fib level and diagonal support (bullish trend line). Which clearly indicates that you can find demand for bitcoin at this support zone. The market has not been able to break these two converging lines and ABCDE pattern is clearly indicating bullish setup here.
Before the price is able to push higher it needs to take down resistance zone which can be found at $8.000 - $7.000 levels. 0.382 fib level is located inside of this resistance zone and it is having a major role on bullish confirmation. Notice that this is a longer term scenario and there are still plenty of space to move side ways even though it would break upwards from 0.382 fib level and resistance zone.
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM 0.78% in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
The price managed to bounce from support zone, 0.786 fib level and diagonal support (bullish trend line). Which clearly indicates that you can find demand for bitcoin at this support zone. The market has not been able to break these two converging lines and ABCDE pattern is clearly indicating bullish setup here.
Before the price is able to push higher it needs to take down resistance zone which can be found at $8.000 - $7.000 levels. 0.382 fib level is located inside of this resistance zone and it is having a major role on bullish confirmation. Notice that this is a longer term scenario and there are still plenty of space to move side ways even though it would break upwards from 0.382 fib level and resistance zone.
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM 0.78% in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
Comment:
This is impressively similar what did happen before the big surge in April and likely to happen again. Waiting until further confirmations from the volume and breaking upwards from 0.382 would be good signals
