That was an abrupt fall on BTC, but good thing it quickly found a support on the SMA 100 that also coincides with the top of previous consolidations which acts now as a new minor support around $6550. MFI also shows an oversold market in the 1hr chart which gives us additional assurance of the price pulling back up in the next 24hrs.
Targets are around $6700 and $6800 which obviously gives a very low profit of only over 3% but is already a big gain for day traders. Good luck!
Targets are around $6700 and $6800 which obviously gives a very low profit of only over 3% but is already a big gain for day traders. Good luck!
Comment:
Touched again SMA 100 that acts as support. We want to take a closer monitoring on this support because a breakdown from this could lead to further fall and will invalidate this trade.
Comment:
Target 1 reached.
Trade closed: target reached:
Was it hit? yep! Target 2 reached and that didn't take long.
Comment:
Ok, so this looks more perfect with respect to timeline.