BTCUSD - Key-Levels to watch before break-out! for BITFINEX:BTCUSD by VincePrince

BTCUSD - Key-Levels to watch before break-out!

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Hello traders investors and community, today i will have a closer look on Bitcoins price action. We are looking on the 4-hour chart.
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As you can see in my chart, BTCUSD is consolidating in a triangle. The consolidation is holding quite long now, normally after such period a break-out will oc-
cur, either up or down. In this case the bullish break-out scenario is highly possible.
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BTCUSD is trading at around 10600 now after a decent up-move we see a small consolidation. In my chart you can see the support between 9930 - 10100,
this is a very important zone for BTCUSD because we bounced there several times in the last days and weeks. It is also an psychological price level, as full
numbers like 9000, 10000, 11000 and so on form important price levels for support or resistance.
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I am expecting a correction to the range at 9930 - 10100 before an break-out and uphtrust will occur. You can see the upthrust range at 11000 USD, this is
the level very many stop-loss will be hit when triggered and a shift up in price-movement.
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The correction will be a good spot to open a LONG position, i myself just looking for an entry there. The total first target for this trade will be 12500 - 12750
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Hopefully everybody is doing well with his trades! May all luck come to you friends! I appreciate everybody who takes some seconds to support, more insight
will follow! This is only educational information and should not be used to take action in markets.
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Note

Moved higher

Trade active

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Next step:

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Price touched support and pulle back as described!

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We are going to break the triangle!

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“The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.”

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Huge shooting star candle on the 4-hour

Bounced off support

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Triangle broken waiting for confirmation

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twitter.com/VincePrince244

Note

The information provided is for educational purposes only and should not be used to take action in markets.

VincePrince

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