Next Target $15600 - Bitcoin Crawling in an Ascending Channel!
Updated
Hello fellow traders,
First of hope you guys caught that drop!
Ok, Let's start.
I've spared the lower time frames for now, looking at the bigger picture.
You can see we've been forming an ascending channel since Feb 8 and it pretty much has been holding so far.
The bottom line of the channel/"Strong trendline" and I expect it to hold and bounce off of it to the upside.
We also have supports between 10k-9k area where the 61.8 fibonacci retracement coming to scene giving us another confluence.
Considering the fundamentals etc, I'm expecting a bounce off of the bottome line of the channel to the upside, How are we gonna know that, simply switch to the lower timeframe 4H/1H or even 30 minutes and look for break of the market structure wait for the pullback, look for price action and enter.
I tried to keep it simple.
Good Luck
First of hope you guys caught that drop!
Ok, Let's start.
I've spared the lower time frames for now, looking at the bigger picture.
You can see we've been forming an ascending channel since Feb 8 and it pretty much has been holding so far.
The bottom line of the channel/"Strong trendline" and I expect it to hold and bounce off of it to the upside.
We also have supports between 10k-9k area where the 61.8 fibonacci retracement coming to scene giving us another confluence.
Considering the fundamentals etc, I'm expecting a bounce off of the bottome line of the channel to the upside, How are we gonna know that, simply switch to the lower timeframe 4H/1H or even 30 minutes and look for break of the market structure wait for the pullback, look for price action and enter.
I tried to keep it simple.
Good Luck
Trade active
It happened, we've bounced to the upside with a nice classic hammer. it was a little fast, expected it to take a bit more to bounce but It's Bitcoin guys, It's normal.We are now in the correction of the first small upside impulsive move.
Another leg up is here. fasten your seat belts!
$15600 First Big Target
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