BTC/USD - Live Update
Updated
Currently trading right at the juncture level, and now we must best figure what best to do to tackle a buy opportunity. as it stands price is trading right at the bottom of the predicted resistance zone at around 6570. when price hit the level price did have a gentle fall to the downside and thus confirms the level does indeed exist. I still consider price to be up on an intermediate trend scale if price stays above 6260, since 6260 is the level where the accumulation started it's bullishness and any negation of this could see us go lower between 6030 and 5800 approximately.
If price doesn't go below 6260 then it's still up, regardless of how bad it looks, this is just the facts. So along as it's above there it's buy territory. The best buy is still waiting for a break above the resistance zone at 6780. The best technique to buy is to wait for a breakout of the resistance zone then a retest. Why is this buy so reliable? Because a retest on the horizontal support zone as well as it supporting on the 200 moving average is a major retest and should be taken seriously.
Bear in mind that you should NOT buy now, (unless you're scalping). you'll either enter into resistance, or enter into an immediate correction. Wait for the market to tell you what to do, do NOT tell the market what will happen, the market will never care to listen to you.
Where do YOU think price is heading? Leave a comment with a chart below and let's share our thoughts!
I will be posting a DAILY analysis for the next 14 days. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it, and it motivates me to post free content.
Thank you for your support.
If price doesn't go below 6260 then it's still up, regardless of how bad it looks, this is just the facts. So along as it's above there it's buy territory. The best buy is still waiting for a break above the resistance zone at 6780. The best technique to buy is to wait for a breakout of the resistance zone then a retest. Why is this buy so reliable? Because a retest on the horizontal support zone as well as it supporting on the 200 moving average is a major retest and should be taken seriously.
Bear in mind that you should NOT buy now, (unless you're scalping). you'll either enter into resistance, or enter into an immediate correction. Wait for the market to tell you what to do, do NOT tell the market what will happen, the market will never care to listen to you.
Where do YOU think price is heading? Leave a comment with a chart below and let's share our thoughts!
I will be posting a DAILY analysis for the next 14 days. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it, and it motivates me to post free content.
Thank you for your support.
Note
Bitcoin appears to be taking the resistance level seriously just as i predicted. I Pretty much stand by the last call and say that Alongs it does not go below 6260 then it is therefore bullish overall.Please give a LIKE and FOLLOW. I’d really appreciate it :-)
Thank you for your support.
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