BitcoinLong
RACEACEACE BTCUSD #BITCOIN Breaking Up
The price has broken our of the recent pivot high gan Fann resistance. Currently, the price is trying to push above the red 2/1 from the pivot low. If the price makes it above 9021, it will more likely than not wick and chop, holding the red 2/1 as support while moving upwards.
A move above the red 2/1 resistance is significant because it shows that the bulls are applying pressure, which they have been over the last 24 hours. My analysis tell me that short trades should be avoided until January 29th.
Support: 8771, 8528, 8291
Resistance: 9021, 9279, 9544, 8816
If 9021 becomes support, it is more likely than not that the price will push towards 9279.
To the noobs, during these moves, there can often be $500-$1000 red / green candles in either direction. If in a loss, it is best to cut your loss early. High leverage trades are almost suicidal (above 25x, in my opinion).
Until next time, the message is that this is bullish until January 29th.
A move above the red 2/1 resistance is significant because it shows that the bulls are applying pressure, which they have been over the last 24 hours. My analysis tell me that short trades should be avoided until January 29th.
Support: 8771, 8528, 8291
Resistance: 9021, 9279, 9544, 8816
If 9021 becomes support, it is more likely than not that the price will push towards 9279.
To the noobs, during these moves, there can often be $500-$1000 red / green candles in either direction. If in a loss, it is best to cut your loss early. High leverage trades are almost suicidal (above 25x, in my opinion).
Until next time, the message is that this is bullish until January 29th.
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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.