BTC/USD (Daily Fib 0.5 Good Support?)
💎Technical Analysis Summary💎
BTC/USD
-Despite the recent -10% move of BTC last Friday
-Today, the bulls have managed to regain back above 58k dollars
-This is good news because the key area is being respected
-We have the previous resistance last September 7, Fib 0.5 and 100D Moving Average
-These multiple key factors drive the price back up the previous trading range
-Also, the descending channel is still following the price action
-If we can see a strong bullish breakout plus a good retest
-Bitcoin short term correction might be over and a potential upside move is likely
-I only took 1 trade recently but got stopped out which is part of the game
-Due to bad market conditions, I'm not going heavy on any swing trade yet
-But once the market shows a clear path, I'll start scaling in more position
-I hope most is are following proper risk management recently
-Good luck and stay safe everyone!
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
BTC/USD
-Despite the recent -10% move of BTC last Friday
-Today, the bulls have managed to regain back above 58k dollars
-This is good news because the key area is being respected
-We have the previous resistance last September 7, Fib 0.5 and 100D Moving Average
-These multiple key factors drive the price back up the previous trading range
-Also, the descending channel is still following the price action
-If we can see a strong bullish breakout plus a good retest
-Bitcoin short term correction might be over and a potential upside move is likely
-I only took 1 trade recently but got stopped out which is part of the game
-Due to bad market conditions, I'm not going heavy on any swing trade yet
-But once the market shows a clear path, I'll start scaling in more position
-I hope most is are following proper risk management recently
-Good luck and stay safe everyone!
⚠️Please always read the description⚠️
Thanks for donating 💰 via Tradingview coins ozzyman2 🙏🎉
``````````````````````````````````````````````
If you need help🙋 don't hesitate to
Send me a message here PolarHusk😊
``````````````````````````````````````````````
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Exercise Proper Risk Management 💱
``````````````````````````````````````````````
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