Here we have the BTC 4h chart.
BTC found very nice support on the upper trend line of the rising wedge we saw in June (BTC broke down from that wedge). I had posted this wedge back then and also traded it with very nice gains.
For now BTC is bouncing from this line, however it has been consolidating on this line for some time now, which makes it weaker. I think by this day's end we WILL see BTC below this line.
On down side, based on previous price action I have 2 important zones of support, zone 1 is pretty good and BTC should see some bounce from here, but I personally think BTC will see significant bounce if it comes to zone 2.
We also have SMA200 in zone 1 (can offer good long scalp) and EMA377 (can offer very good long-term long opportunity) in zone 2.
I have my eyes set in this area, and hoping to play some longs here.
Will try to keep this one updated. Chao..
Consider like :) :)
BTC found very nice support on the upper trend line of the rising wedge we saw in June (BTC broke down from that wedge). I had posted this wedge back then and also traded it with very nice gains.
For now BTC is bouncing from this line, however it has been consolidating on this line for some time now, which makes it weaker. I think by this day's end we WILL see BTC below this line.
On down side, based on previous price action I have 2 important zones of support, zone 1 is pretty good and BTC should see some bounce from here, but I personally think BTC will see significant bounce if it comes to zone 2.
We also have SMA200 in zone 1 (can offer good long scalp) and EMA377 (can offer very good long-term long opportunity) in zone 2.
I have my eyes set in this area, and hoping to play some longs here.
Will try to keep this one updated. Chao..
Consider like :) :)
Note
Here is 1 hr chart. See how nicely BTC has been bouncing from this line.With each bounce it is getting weaker.
Note
BTC broke 1h 377 EMANote
Currently testing 200 SMA on 2hrNote
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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.