BTC's movement for today is bull biased due to the following reasons
1. MACD at H4 is largely open.
2. Strong upward pressure as seen in sudden pump.
However, I still do believe that the long run is still bear but we are focusing on day trading. After hitting 8700 or 8800, it will go down again.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Red and green arrows - possible directional movements
Price movement can be a lot different from this post. Have a good risk reward ratio.
Be wary of false breaks! Trading is RISKY, always put stop losses.
TRADING IS REACTIVE, NOT PREDICTIVE.
1. MACD at H4 is largely open.
2. Strong upward pressure as seen in sudden pump.
However, I still do believe that the long run is still bear but we are focusing on day trading. After hitting 8700 or 8800, it will go down again.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Red and green arrows - possible directional movements
Price movement can be a lot different from this post. Have a good risk reward ratio.
Be wary of false breaks! Trading is RISKY, always put stop losses.
TRADING IS REACTIVE, NOT PREDICTIVE.
Comment:
It did hit the scenario, but to enter was really tricky.