I think Bitcoin ( BTC ) is in an important time and area of decision making. In my previous ideas, I wrote to you about 18300 - 18400 that it is an area that if it is broken the correction is started.. In this idea I want to talk to you about how we call a price area, BROKEN??
Support and resistance areas that are strong and the price was above or below them for a long time, are hard to break. In most of occasions that I experienced, the first time that price can successfully break the area is not actually a breakout but it will be failure, but I can say that will happens 100%, it's just an experience.. Whenever we come this occasions, I believe there is a good solution that we can check other technical and fundamental indicators to make sure how the market is going to react..
The best solution in my opinion is that we should WAIT!!!
Scenario 1: If this is a False Breakout, Bitcoin will keep on moving higher and there will be a good opportunity for us to make a long position around 18500 - 18600, and our first resistance area will be around 18900..
Scenario 2: If this is a True Breakout, Bitcoin will go downwards and there will be an awsome opportunity for us to make short position around 17550 17600 and our first support area will be on 17000 but I see much more deeper targets because if BTC go down this is a big correction a I told you in previous ideas..
I hope you enjoy this idea, feel free to ask me any question about it or tell me about your idea..
Support and resistance areas that are strong and the price was above or below them for a long time, are hard to break. In most of occasions that I experienced, the first time that price can successfully break the area is not actually a breakout but it will be failure, but I can say that will happens 100%, it's just an experience.. Whenever we come this occasions, I believe there is a good solution that we can check other technical and fundamental indicators to make sure how the market is going to react..
The best solution in my opinion is that we should WAIT!!!
Scenario 1: If this is a False Breakout, Bitcoin will keep on moving higher and there will be a good opportunity for us to make a long position around 18500 - 18600, and our first resistance area will be around 18900..
Scenario 2: If this is a True Breakout, Bitcoin will go downwards and there will be an awsome opportunity for us to make short position around 17550 17600 and our first support area will be on 17000 but I see much more deeper targets because if BTC go down this is a big correction a I told you in previous ideas..
I hope you enjoy this idea, feel free to ask me any question about it or tell me about your idea..
Trade closed: target reached:
BTC price goes above 18600 and successfully break 18900 important resistance area..
I believe BTC is in Bullish scenario and going to 20,000 and after that 21,000..
I believe BTC is in Bullish scenario and going to 20,000 and after that 21,000..
