-ATR Shows market panic sells chain reaction causing 3x more volatility
-200MA Still bullish
-Showing nice wick rejection, which indicates strong buy power from here.
-Overbought cloud breakout, which indicates a reversal
-Parabolic SAR still bearish but due to what i mentioned above, it will turn Bullish again.
What caused this huge spike?
REENTRY FOR SHORT
2. EMA50 show downtrend
Course of action
1. Wait at the targeted zone to re-entry Sell. (FIBO pull from m15)
2. Will enter if full setup has been showned
3. Sl @ 1.31195
H4 Candlestick momentum showing that the price is strong for short
lets ride the wave with good risk reward ration.
wait for the price to enter MAHIGH and enter a short position with SL is slightly higher @ major resistance line
I"m going to spare the wall of text.
If you can read a chart you get it.
Caveat for new traders: You can not predic the future, only examine the past. This is a Bolinger analysis combind with Trend Lines and an over sold RSI potential on the daily. My perspective, should not be your perspective. This is only how I see it. Breakout will go up or down....
Look at the current situation with BTC. The price of BTC is $7656, slightly above EMA21 ($7628) and EMA50 ($7601). Also local upward trend support is located there. Strong supports, so I believe that BTC will retest the upper resistance of the ascending triangle at the price around $7750. But, now I'm not sure we'll go even higher.
If we look at BTC, It forms...
Another successful day for BTC. The Price $9800 was reached and $10.000 is already a bit above us.
So when are we going to try to break through this level? Of course, it can happen at any time, 10K resistance is a very awaited moment and bulls want to get through this level. If BTC manage it, it will be strong bullish trend confirmation.
More advantageous for...