BITCOIN - Do NOT take a position YET! #2
Updated
The Bitcoin market is currently undecided. Most of the common used indicators are neutral.
The price is sitting slightly above the EMA 9. The 4h candle opened a few minutes ago,
i think the price action in the next 4 hours will give us a better idea of where the price is going.
While the overall trend is down, we are in overbought territory on the 1D frame.
We are also sitting right above a strong support zone at 7800.00.
This means the following to options are in sight:
If this candle closes below the dotted line at 8145.00 we will probably go down and test our support zone,
located between 7700.00 and 7900.00 - which could break if high volume kicks in.
If this candle closes above the dotted line at 8215.00 we will probably go up to our resistance zone,
located between 8600.00 and 8800.00.
Wait for the market to give you a clear signal.
I will update this chart accordingly.
Leave a thumbs up if you like my idea and let me know what you think!
This will keep me motivated :-)
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
The price is sitting slightly above the EMA 9. The 4h candle opened a few minutes ago,
i think the price action in the next 4 hours will give us a better idea of where the price is going.
While the overall trend is down, we are in overbought territory on the 1D frame.
We are also sitting right above a strong support zone at 7800.00.
This means the following to options are in sight:
If this candle closes below the dotted line at 8145.00 we will probably go down and test our support zone,
located between 7700.00 and 7900.00 - which could break if high volume kicks in.
If this candle closes above the dotted line at 8215.00 we will probably go up to our resistance zone,
located between 8600.00 and 8800.00.
Wait for the market to give you a clear signal.
I will update this chart accordingly.
Leave a thumbs up if you like my idea and let me know what you think!
This will keep me motivated :-)
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
Trade active
High volume, strong momentum - Buy (Long): 8230.00Trade closed: target reached
30% of the position at 8430.00Note
We face some resistance in the 8500.00 area. That's where most sellers entered the market in the past days. After this strong move (8200.00 to 8450.00) you can expect a small pullback hereTrade closed: target reached
remaining position closed at 8620.00Note
Update (15m Chart)
Note
Updated Idea #2
Note
Updated Idea #3
Strategies, Insights & Education: t.me/KOLAcademy
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