BTC - Possible movements at trendchannel
Updated
Bitcoin reached the log-downtrendchannel which also means a retracement of 61% of the drop so we will face a solid resistance around this level. I expect some flowing here at this level to check the resistance.
I still have in mind we need to retest lower support, even the lowest support wasnt retested on the current cycle.
Breakout confirmed at 10.000$, volume shows some increasements, stoch. RSI is oversold on 4h and daily but FOMO can be a massiv support.
If you havent bought, wait till breakout is confirmed by closing a 4h candle above the trendchannel, also expect a retest of the outbreak.
Targets for a failing breakout are shown in the chart.
Good Luck!
I still have in mind we need to retest lower support, even the lowest support wasnt retested on the current cycle.
Breakout confirmed at 10.000$, volume shows some increasements, stoch. RSI is oversold on 4h and daily but FOMO can be a massiv support.
If you havent bought, wait till breakout is confirmed by closing a 4h candle above the trendchannel, also expect a retest of the outbreak.
Targets for a failing breakout are shown in the chart.
Good Luck!
Trade closed manually
Sold at 9700$ and take the profit. Will wait for a dip or buy back as soon as a clear cross of the 10.000$ area happens. IMO a retest is more likely to happen than a further climb but currently nothing is sure.
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