Just starting out with TA so I like to keep it as simple as possible, so here is a straightforward resistance and support idea for Bitcoin.
Note
Looks like it bounced for now. Heavy resistance around the range of 7800-7900 USD and it is a level to watch. If it breaks that range we go upward fast. I expect it to bounce there and go lower before we go up.Trade active
Bought at 7350 USD. Stop-loss at 7700 USD if we reach the 7800 - 7900 USD range.Trade closed: target reached
7900 got triggered and I sold. Price broke out of the pattern, but probably nobody expected that green candle.
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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.