Bitcoin - Patience NOT Gambling Required.
Updated
Trade Pair: BTC.USD
Time Frame: Daily, 4hr, 1hr & 5min
Predicted Direction: N/A
BTC.USD updates will be available in the comments section below.
Additional Information:
Price currently is sitting in between 2 key levels ( $8,600 & $9,700 ) which is causing the indecision and lack of impulsive price movements.
Trading the indecision ( sideways movement ) guessing which way it will break is in my opinion a gamble as the odds are not in my favour.
My approach is to await the next impulse which will either provide a swing or day trading opportunity.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Time Frame: Daily, 4hr, 1hr & 5min
Predicted Direction: N/A
BTC.USD updates will be available in the comments section below.
Additional Information:
Price currently is sitting in between 2 key levels ( $8,600 & $9,700 ) which is causing the indecision and lack of impulsive price movements.
Trading the indecision ( sideways movement ) guessing which way it will break is in my opinion a gamble as the odds are not in my favour.
My approach is to await the next impulse which will either provide a swing or day trading opportunity.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Note
A nice clean break and close below the 1hr / 4hr 50EMA & ascending trendline.Awaiting a consolidation period.
Note
A consolidation / pullback is now underway.Awaiting a short opportunity, however I would advise being patient as the pullback may not validate my entry rules.
Note
Currently there is no entry for me to take advantage of the move, however i expect continued downside towards $8,700Note
It's time.
Note
New Trade Idea.
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