BitcoinLong
$BTC Long 1D TF Sup/Res Fib. Ext
Updated
Opened a long trade on BTC at a price of ~$17,950 after some consolidation and a technical bounce at ~$17,800, the 0.786 Fibonacci retracement from my previous charts (titled Bitcoin Long 1W TF Sup/Res Fib. Ext.).
After opening the trade, I had an exit strategy ifBTC rejected resistance at ~$20,000 again. This time, we broke through the res.
Zooming out to a 1W timeframe, we find the next resistance to be the golden ratio Fibonacci extension (1.618) at ~$26,000.
BTC at a price of ~$17,950 after some consolidation and a technical bounce at ~$17,800, the 0.786 Fibonacci retracement from my previous charts (titled Bitcoin Long 1W TF Sup/Res Fib. Ext.).After opening the trade, I had an exit strategy if
BTC rejected resistance at ~$20,000 again. This time, we broke through the res. Zooming out to a 1W timeframe, we find the next resistance to be the golden ratio Fibonacci extension (1.618) at ~$26,000.
Note
Target hit $$$
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.