Now BTC has been in the price range from 11300 to 11500 for a while which are also Fibonacci retracement. and it has reached the resistance two times(check the white circle there). but every time it pulls back sharply, which means the sell pressure is still huge.
my perspective. wait until it breaks out the box. let the long/short strength decides the trade direction.
but it looks like it is waiting for the up-trend channel to go up to preform another try to break upper line of box. Also the Stoch RSI looks a littttttle bullish. Thus 60% for long. still cannot ignore the possibility that the sell press is so huge that the price pull back to 11160(fib 0.618)
Let's wait and see.
my perspective. wait until it breaks out the box. let the long/short strength decides the trade direction.
but it looks like it is waiting for the up-trend channel to go up to preform another try to break upper line of box. Also the Stoch RSI looks a littttttle bullish. Thus 60% for long. still cannot ignore the possibility that the sell press is so huge that the price pull back to 11160(fib 0.618)
Let's wait and see.
Trade closed: target reached
follow the up arrow. but didn't insist on following the strategy , close the trade so soon
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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.