Btc broke out of the descending triangle!! Bulls might be fueled up to climb higher now!
The pink line must hold as support for a start!
I took a long position on the rejection between the 2 lines of support..
Took already profit and still in position for maybe some more uptime..
I might be adding more to my position but not sure, because there are still a lot of obstacles for bulls to break!
First target old support line now located near 9.6k
Second target 9850 0.382 fib
Third target 10.4k old descending resistance..
For me all 3 targets could be decent short positions.
If bulls can break above the latest high I will remain bullish, but to be honest I would like to
open a short position for a double top and old descending resistance..
The last 4h had by the looks of it a bearish wick so we might be testing the break out point before going up again..
For now I’ll just hodl my position and hopefully bulls can get some more buy pressure with breaking the descending line..
The pink line must hold as support for a start!
I took a long position on the rejection between the 2 lines of support..
Took already profit and still in position for maybe some more uptime..
I might be adding more to my position but not sure, because there are still a lot of obstacles for bulls to break!
First target old support line now located near 9.6k
Second target 9850 0.382 fib
Third target 10.4k old descending resistance..
For me all 3 targets could be decent short positions.
If bulls can break above the latest high I will remain bullish, but to be honest I would like to
open a short position for a double top and old descending resistance..
The last 4h had by the looks of it a bearish wick so we might be testing the break out point before going up again..
For now I’ll just hodl my position and hopefully bulls can get some more buy pressure with breaking the descending line..
