Pick Date : 03/21/18
Entry : 0.9980
Stop : 0.9960
Target : 0.0180
Income Type : Swing
0.9980 is a newly formed 2H demand zone on zone. Will be doing a set and forget limit order. Price will need to have a strong move into the zone.
0.9960 is 20PIPs right outside of the low for some protection
As we know, BTC is still in a downtrend. Within this downtrend we see a uptrend channel, bitcoin moved up slowly the past two weeks. In my opinion it has to retrace to build some momentum. The yellow ellipse would be a perfect support line. This is around 9700/10000 dollar. If this support line holds it will consolidate around that price. If it breaks downwards...
Now we are in the flat zone and descending channel the downtrend is leading to strong and risky 78.60% Fibo. There we can buy, make order - my advice.
Soon we come closer to the resistance line and go to the second(for now) strong lvl 38.20%. There we can TP.
It looks like BTC is deaf and blind; it is not paying attention to what is going on out there, nothing about China, North Korea, USA...well, this is its first test when geopolitical issues are not in good shape...IMO