BitcoinLong
Bitcoin BREAKING 4500.
Great day today! Bitcoin has broken 4500 with good volume, which means it is a strong move.
We are breaking out of this consolidation pattern that we've been in since August 14.
Entry: Above 4500
Target: 5000 *very nice target, it is a round number that people will pay attention to, AND it is both the 261.8 retracement of June/July AND August consolidation levels. When levels line up like that, it's a big deal
Stop: below 4500
So keep to your stop and if it breaks below 4500, we'll probably see lower prices, but right now the move looks powerful.
I think we are going to head quickly to 5000, where we will probably see some profit taking and maybe another consolidation.
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!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
We are breaking out of this consolidation pattern that we've been in since August 14.
Entry: Above 4500
Target: 5000 *very nice target, it is a round number that people will pay attention to, AND it is both the 261.8 retracement of June/July AND August consolidation levels. When levels line up like that, it's a big deal
Stop: below 4500
So keep to your stop and if it breaks below 4500, we'll probably see lower prices, but right now the move looks powerful.
I think we are going to head quickly to 5000, where we will probably see some profit taking and maybe another consolidation.
-----------
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
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.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
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.