BTCUSD: Support and resistance Zones for long bias aside short
Updated
Holding K.C Band on the 8h chart, for btc to test upper targets we first must break marked resistance blocks for any continuation to the upside,
we can wait for a break out of block 1 for a scalp , block 2 for a better R.R intra D swing, a break below current support without a wick up back into cahnnel may spell a further retracement into the 25-22k range before upside movements on a larger scale. ,
we may have completed our corrective cycle on a macro level around these price points, simply put you can play this a few ways, wait for a break out of res, Long a high r.r from upper support block with a tight stop or dca ladder under prev wick low, or again wait for break down confirmation into a short swing towards 25-22k long blocks., never oveer trade, always plan and remember to look left ;)
we can wait for a break out of block 1 for a scalp , block 2 for a better R.R intra D swing, a break below current support without a wick up back into cahnnel may spell a further retracement into the 25-22k range before upside movements on a larger scale. ,
we may have completed our corrective cycle on a macro level around these price points, simply put you can play this a few ways, wait for a break out of res, Long a high r.r from upper support block with a tight stop or dca ladder under prev wick low, or again wait for break down confirmation into a short swing towards 25-22k long blocks., never oveer trade, always plan and remember to look left ;)
Note
12k marks the lower support block <Trade active
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MACD Note
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