Here is my normal "grading a trade" mental checklist to see where we are. Weekly and Daily are wave 4 pullbacks and should gap down at the open for a 5th short. Resistance the last time at the center channel line was for 12-trading days before it finished it's drive to the top of the channel. This daily channel has been respected the last 29-months. Just my...
Yesterday BTC broke the resistance at about 7100usd .
Now a breakout confirmed , so i can expect price tests 7200usd resistance .
Bulls got the control at the moment, however any break down from 6900usd can change the trend.
I will update chart and inform you if any changes happened.
This is my first idea, i hope it could be useful to you. :)
Bitcoin is in a healthy uptrend that will break resistance, pull back to the new support(previous resistance) then head higher breaking the overhead resistance of the previous move. This may sound a bit confusing but the chart makes everything clearer!
Next resistance is 10900/1100 and if the trend stays the same then I expect the level of 1500 to be broken in...
Our BITS Indicator for the TradingView Platform was spot on for XAUUSD this morning predicting the Short breakout trade on the 60 minute time-frame. the move hit our 4th target price.
Now we can see a low volume move back up and if this continues to run out of bullish momentum, we will be turning to our BITS indicator on multiple time-frames, to look for another...