Welcome boys and girls, looking at bitcoin's current price action reminds me of the good old days when we would see massive bullish moves.
Supports are respected and resistances are broken. We see a similar case developing right now, Bitcoin bulls have decided to slowly keep pushing the price up and as you can see bitcoin is trading within this range:
Range high- 5333
Range low- 4783
Mid range- 5064
We have a clear S/R level at mid range level, which has been acting as the magnet for price whenever it moves to either of the extremes.
Best play in the near term for me to buy the support at mid range level and target the range high at 5333.
Draw on liquidity remains to the upside and I can see us pushing towards 5500 big figure level sometime this week.
Manage your risk properly and crypto shall reward you, cheers!
Good luck trading
Supports are respected and resistances are broken. We see a similar case developing right now, Bitcoin bulls have decided to slowly keep pushing the price up and as you can see bitcoin is trading within this range:
Range high- 5333
Range low- 4783
Mid range- 5064
We have a clear S/R level at mid range level, which has been acting as the magnet for price whenever it moves to either of the extremes.
Best play in the near term for me to buy the support at mid range level and target the range high at 5333.
Draw on liquidity remains to the upside and I can see us pushing towards 5500 big figure level sometime this week.
Manage your risk properly and crypto shall reward you, cheers!
Good luck trading
Trade closed: target reached:
As I write this post, price is racing towards my target, hope you all enjoyed the ride, more to come!
As I write this post, price is racing towards my target, hope you all enjoyed the ride, more to come!