Bitcoin Loves Weekly Levels - 90% Of Traders Don't See This
Hey guys,
Bitcoin price action is still bullish and I am sharing with you a powerful technique to spot the next resistance area. The key is to know where your levels are and how to draw them. Take a look how bitcoin price reacted when it touched the first weekly level for the first time. We had a very strong rejection because of the confluence we had with the 0.618 retracement.
Now, our next weekly level is at $16224.5 and we have confluence with the 0.786 fib retracement which is at $16461 (this is our big resistance zone).
Pro Tip: The key is to always wait for price to come back to this level of resistance and monitor the price action on the lower timeframes and to only enter short or close your long when you see something specific happening.
If you want to learn more about this concept in depth for FREE, visit: www.wickstrade.com
Peace!
Bitcoin price action is still bullish and I am sharing with you a powerful technique to spot the next resistance area. The key is to know where your levels are and how to draw them. Take a look how bitcoin price reacted when it touched the first weekly level for the first time. We had a very strong rejection because of the confluence we had with the 0.618 retracement.
Now, our next weekly level is at $16224.5 and we have confluence with the 0.786 fib retracement which is at $16461 (this is our big resistance zone).
Pro Tip: The key is to always wait for price to come back to this level of resistance and monitor the price action on the lower timeframes and to only enter short or close your long when you see something specific happening.
If you want to learn more about this concept in depth for FREE, visit: www.wickstrade.com
Peace!
