Hello All,
This will be another quick one.
If some of you guys remember, we called the exact BTC top @10200 well in advance from some basic chart analysis. We did play several short scalps and longs in my disc. group.
So what next:
> Today's drop got BTC below the upper trend line again and as of now One 4hr candle has confirmed the resistance at this line. This essentially has reactivated all these major SR trend lines.
>> Bullish case: If BTC closes above the upper trend line today @9950 then bull move will continue towards 10500 and 12000
> >Bearish case: If BTC falls below 9700 then 9623 pivot will be good support, if that also fails then I will look for 9500 and 9400.
Looking at the nice/organic move BTC had from 7000 bottom, my bias is with bulls for now and I do not think BTC will break below 9500 (however as we get more PA data I will update my view).
PS: Do check our call of 10200 in the post below and BTC 2020 forecast.
Happy and safe trading...
Chao...
This will be another quick one.
If some of you guys remember, we called the exact BTC top @10200 well in advance from some basic chart analysis. We did play several short scalps and longs in my disc. group.
So what next:
> Today's drop got BTC below the upper trend line again and as of now One 4hr candle has confirmed the resistance at this line. This essentially has reactivated all these major SR trend lines.
>> Bullish case: If BTC closes above the upper trend line today @9950 then bull move will continue towards 10500 and 12000
> >Bearish case: If BTC falls below 9700 then 9623 pivot will be good support, if that also fails then I will look for 9500 and 9400.
Looking at the nice/organic move BTC had from 7000 bottom, my bias is with bulls for now and I do not think BTC will break below 9500 (however as we get more PA data I will update my view).
PS: Do check our call of 10200 in the post below and BTC 2020 forecast.
Happy and safe trading...
Chao...
Note
As outlined yesterday, BTC did not break below 9700 and bulls took over immediatly. As soon as BTC broke above the resistance box (in red) we entered long, another perfect call with another succsessful trade. All trade updates in my dic. group. below. :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.