Lots of Support for a BTC Bounce on 12H
But now it's time to accumulate for another test at 4200. We're seeing a lot of confluence for support in this 3700 range: the 200MA, the 55EMA, a support since early February, and the .5 fib line in the local structure. I feel very comfortable setting my stop-loss below all that.
We're also hitting a strong resistance turned support on the . I'm ready for the bounce. Confirmation for me is a higher low on the 2H. Targeting a fifth wave 1:1 fib extension for 16% profit. I'm willing to sit through this trade for a week or two. I'll move up my stop-loss into profit as we form and work up an .