Bitcoin - breakout time or another test of support ?
Updated
- Market price moves near ascending triangle resistance line and has tested this several times.
- MACD baselines near bearish crossing, expect down movement while crossing
- RSI is near resistance line, expect down movement if the RSI line doesn't jump above resistance line
- Expect fast up movement to 9200 $ if the ascending triangle resistance line break up + market price jump above drawn red strong resistance area.
- Expect fast down movement to at least 7300 $ if the ascending triangle support line break down and market price close under drawn area
Wait for clear sell/buy confirmation before entering a trade and open short/long at drawn areas. I expect another down movement to triangle test line.
- MACD baselines near bearish crossing, expect down movement while crossing
- RSI is near resistance line, expect down movement if the RSI line doesn't jump above resistance line
- Expect fast up movement to 9200 $ if the ascending triangle resistance line break up + market price jump above drawn red strong resistance area.
- Expect fast down movement to at least 7300 $ if the ascending triangle support line break down and market price close under drawn area
Wait for clear sell/buy confirmation before entering a trade and open short/long at drawn areas. I expect another down movement to triangle test line.
Trade closed: target reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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